Small Business Ownership check up

Evelyn is starting her own business and wants to know: What exactly is a sole proprietorship?

• A business owned by multiple partners

• A business owned and operated by one individual

• A corporation with a board of directors

• A franchise agreement

Imagine you're in a business class with Evelyn, Nora, and Daniel. The professor asks: What is a general partnership?

• Partners share equal liability in the profits and losses of the business

• Partners have unequal share and liability

• A business owned by one individual

• A corporation with a board of directors

Arjun and Scarlett are starting a new business together. What type of partnership allows them to have different levels of responsibility and investment?

• Partners share equal liability

• Partners have an unequal share and liability

• A business owned by one individual

• A franchise agreement

What is a corporation?

• A business owned by one individual

• A separate legal entity which forms a board to act as governing bodies

• A partnership with equal liability

• A franchise agreement

What is a franchise?

• A business owned by one individual

• A right or license to sell a company’s product or service

• A partnership with equal liability

• A corporation with a board of directors

Who is a franchisor?

• A person who pays fees to operate a business

• A business that leases its trade name and operating system

• A business owned by one individual

• A corporation with a board of directors

What is capital in a business context?

• A person who guides a company to success

• Wealth in the form of money or property used in a business

• A business owned by one individual

• A franchise agreement

Who are investors?

• Individuals who save money in banks

• Groups of individuals who invest their money in various types of companies in search of making a profit

• People who only invest in real estate

• Individuals who donate money to charities

Hey there, tech explorers! Avery and Aria are on a quest to uncover the secrets of the internet. Can you help them by answering this: What are domain names?

• Unique names which identify Internet sites and businesses

• Names of real estate properties

• Names of financial institutions

• Names of government agencies

What are patents?

• Grants of intellectual property rights to the inventor

• Permissions to use public resources

• Licenses to sell products

• Certificates of authenticity