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Sole proprietorship

Authored by Rana Zaidan

Business

11th Grade

Used 8+ times

Sole proprietorship
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14 questions

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1.

DROPDOWN QUESTION

1 min • 1 pt

Businesses are owned and operated by individuals​ ​ ​ (a)  

Private corporation
Public corporation

2.

DROPDOWN QUESTION

1 min • 1 pt

​ (a)   What is a sole proprietorship?​

A business owned and operated by a single person
A business owned by two or more individuals

3.

DROPDOWN QUESTION

1 min • 1 pt


  1. Who receives all the profits from a sole proprietorship?​ (a)  

Owner
Government
Shareholders

4.

DROPDOWN QUESTION

1 min • 1 pt

Which of the following is a disadvantage of a sole proprietorship?​

​ ​ (a)  

Unlimited liability
Limited control
Ease of formation

5.

DROPDOWN QUESTION

1 min • 1 pt

Which of the following statements is true regarding the legal status of a sole proprietorship?​ ​ (a)  

It can exist independently of its owner
It is a separate legal entity from its owner

6.

DROPDOWN QUESTION

1 min • 1 pt

A sole proprietorship is a business structure owned and operated by multiple individuals.​ (a)  

False
True

7.

DROPDOWN QUESTION

1 min • 1 pt

In a sole proprietorship, the owner has unlimited liability for the business's debts and obligations.​ ​ (a)  

True
False

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