Business Ownership and Entrepreneurship
Authored by Andrea Punzalan
Other
4th Grade
Used 8+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary characteristic of a Sole Proprietorship?
Shared ownership
Multiple owners
One owner
Board of directors
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many owners are typically involved in a Partnership?
One
Two or more
Three
Five
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a Partnership, how are profits and losses shared?
Only the senior partner receives profits
Equally among all partners
Based on the number of employees
Determined by a lottery system
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What distinguishes a Corporation from other business types?
Limited liability
Shared decision-making
Sole ownership
No legal entity status
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What level of control does an owner have in a Sole Proprietorship?
Limited control
Shared control
Complete control
No control
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the significance of a partnership agreement?
Not required
Optional
Mandatory
Suggested
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is a Corporation considered a separate legal entity?
It has no legal status
It is not separate from its owners
It can own property and make contracts
It has unlimited liability
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