Business Structures

Business Structures

12th Grade

15 Qs

quiz-placeholder

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Business Structures

Business Structures

Assessment

Quiz

History

12th Grade

Practice Problem

Easy

Created by

TINO DIAZ

Used 1+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a sole proprietorship is

a business that is owned and managed by ONE person

a business that is owned and managed by TWO OR MORE PEOPLE

a legal entity created under the laws of a state

a business that sells stocks

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a partnership is

  a business that is owned and managed by ONE person

a business that is owned and managed by TWO or more people

a legal entity created under the laws of a state

a business that sells stocks

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a corporation is

a legal entity created under the laws of a state

a business that does not sell stocks

a business that is owned and managed by ONE person

a business that is owned and managed by TWO or more people

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following are NOT legal entities?

sole proprietorship

partnership

corporation

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one advantage of having a sole proprietorship?

you keep all the profits

you have to pay all the debts

you are a legal entity

difficult to attract qualified employees

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what is one disadvantage of having a sole proprietorship?

you keep all the profits

you have to answer to your boss

you only get taxed once

difficult to attract qualified employees

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what is one advantage of a partnership?

you keep all the profits

you have to split the profits with your partners

you are responsible for all debts

easier to attract qualified employees than sole proprietorship

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