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Ent- Unit 5

Authored by Gretchen Shelman

Computers

10th Grade

Used 5+ times

Ent- Unit 5
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a disadvantage of sole proprietorships?

All decisions made by 1

low startup costs

no added federal taxes

hard to raise money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an advantage of general partnerships?

Each partner personally liable for debt

disputes can arise between partners

Losses share between partners

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an advantage of a C-Corp

Double taxation

can't deduct losses on personal tax return

must comply with corporate formalities

stocks provide funding options

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is similar to a c-corp, but profits/losses are taxed to a personal return?

S-Corp

Co-Op

Non Profit

LLC

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Protected from liability, easy startup, & no added federal taxes are all advantages of what type of business ownership?

LLC

Sole Proprietorship

Limited Partnership

Co-op

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of corporation is formed to benefit the public interest and serve the common good?

Co-op

Non profit

LLC

S-Corp

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business ownership is a private organization that is owned and managed by individuals for their own benefit?

Nonprofit

Co-op

LLC

Partnership

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