Organization Business

What is a sole proprietorship?

• A sole proprietorship is a type of partnership involving multiple owners.
• A sole proprietorship is a business owned by a corporation.
• A sole proprietorship is a form of government organization.
• A sole proprietorship is a business owned and operated by a single individual.

Which form of business ownership offers limited liability protection to its owners?

• Corporation

• Partnership

• Sole proprietorship

• Cooperative

In a partnership, how are profits and losses typically shared?

• Equally among all partners
• Based on the weather forecast
• By flipping a coin
• Based on the agreed upon percentage of ownership or investment by each partner

What is a characteristic of a limited liability company (LLC)?

• Ability to issue stock to raise capital
• Tax advantages for owners
• Taxed as a corporation only

• Flexible management structure

What distinguishes a sole proprietorship from other forms of business ownership?

• Limited liability

• Multiple owners

• Single ownership

• Democratic decision-making

Which form of business ownership typically involves the most complex legal and financial requirements?

• Partnership

• Corporation

• Sole proprietorship

• Limited Liability Company (LLC)

What type of business ownership involves ownership divided into shares of stock?

• Partnership
• Sole Proprietorship
• Limited Liability Company
• Corporation

If a business owner wants to involve employees in the decision-making process and share profits among them, which form of business ownership would be most suitable?

• Sole proprietorship
• Cooperative
• Partnership
• Corporation

A small business owner wants to maintain complete control over the business's operations and doesn't want to share profits with others. Which form of business ownership would be most appropriate?

• Partnership
• Limited Liability Company
• Sole Proprietorship
• Corporation

A small business owner wants to maintain complete control over the business's operations and doesn't want to share profits with others. Which form of business ownership would be most appropriate?

• Partnership
• Corporation
• Limited Liability Company
• Sole Proprietorship