Business Ownership and Types Quiz
Authored by Rosemarie Rellona Womack
Business
12th Grade
Used 9+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of business ownership?
The act of managing a business entity
Legal and financial responsibility of individuals or groups for a business entity.
The process of starting a business
The ownership of physical assets in a business
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a type of business ownership?
Sole proprietorship
Partnership
Limited liability company
Marketing strategy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business ownership has unlimited liability?
Sole proprietorship
Corporation
Partnership
Limited liability company
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business ownership has the advantage of easy decision-making?
Corporation
Sole proprietorship
Partnership
Limited liability company
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business ownership has the advantage of shared responsibilities and resources?
Sole proprietorship
Limited liability company
Corporation
Partnership
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business ownership has the advantage of limited liability?
Limited liability company
Corporation
Sole proprietorship
Partnership
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business ownership is a separate legal entity?
Sole proprietorship
Corporation
Partnership
Limited liability company
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