
Business Structures Quiz
Authored by Kesha-Gay Thorpe
Professional Development
10th Grade
Used 2+ times

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28 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key advantage of a sole proprietorship?
Limited liability
Complete control
Easier to raise capital
Shared resources
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business is owned by two or more people?
Sole Proprietorship
Corporation
Partnership
Limited Liability Company
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a general partnership, what do all partners share?
Limited liability
Equal responsibility and liability
No liability
Unlimited resources
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of a sole proprietorship?
Limited liability
Harder to raise capital
Double taxation
Complex management
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of partnership includes both general and limited partners?
General Partnership
Limited Partnership (LP)
Limited Liability Partnership (LLP)
Sole Proprietorship
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a characteristic of a corporation?
Owned by one person
Unlimited personal liability
Separate legal entity owned by shareholders
Limited to 100 shareholders
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a benefit of an S Corporation?
Double taxation
Limited liability
Unlimited shareholders
Complex setup
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