Types of Business Organizations Warmup

Types of Business Organizations Warmup

12th Grade

20 Qs

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Types of Business Organizations Warmup

Types of Business Organizations Warmup

Assessment

Quiz

Social Studies

12th Grade

Easy

Created by

Kurtis Doehrman

Used 39+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The most common type of business organization in the United States in the _________.

corporation

partnership

sole proprietorship

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sara’s Hair Palace is a small, locally owned beauty salon in Sterling. This represents what type of business?

corporation
partnership
sole proprietorship

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Susie is starting her own lemonade store. What economic term would best describe Susie and what does that term mean? 

Consumer – a person who uses or consumes goods
 Partnership –  partner in the lemonade stand
Entrepreneur-  - person who takes a risk to start a new company

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Dan has $5,000. He wants to invest his money in the type of business that has the least amount of liability. In which type of business should he invest?

corporation
partnership
proprietorship

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A business partnership has ___________ who share the risks and the profits.

One owner
No more than three owners
Two or more owners
Five or more owners

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In which of the following would one person be responsible for all of the risks but also receive all of the profits?

Corporation
Propreitership
Partnership
Dual owner business

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an advantage of sole proprietorships:

Limited liability
Unlimited financial power
Dual taxation
Quick decision making

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