Business Ownership Quiz
Authored by Mrigaya Singh
Business
12th Grade
Used 11+ times
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37 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a sole proprietorship?
A business owned by multiple people
A business owned by one person
A business owned by the government
A business owned by a corporation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the oldest and most common form of business ownership?
Limited liability company
Partnership
Corporation
Sole proprietorship
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a partnership?
A business owned by the government
A business owned by a corporation
A business owned by one person
A business owned by multiple people
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a general partner in a partnership?
A partner who has decision-making authority and unlimited liability
A partner who does not take an active role in decision making
A partner who takes an active role in the operation of the business
A partner who has limited liability
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an advantage of a General Partnership?
Separate ownership and management
Limited liability
Ability to raise capital
None
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a corporation?
A business organization that operates as a legal entity separate from its owners
A business owned by multiple people
A business owned by one person
A business owned by a government
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an advantage of a corporation?
Shared profits
Easy set-up
Limited liability
Total control
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