THREE FORMS OF OWNERSHIP

What is one of the three forms of ownership?

• Sole Proprietorship

• Partnership

• Corporation

• All of the above.

Which form of ownership involves a single individual owning the entire business?

• Partnership

• Corporation

• Sole Proprietorship

• None of the above

In which form of ownership do two or more people share ownership of a business?

• Sole Proprietorship

• Partnership

• Corporation

• All of the above

What is the form of ownership in which only one person owns the business?

• Sole proprietorship

• Partnership

• Corporation

• Limited Liability Company

In a sole proprietorship, who makes all the decisions and is responsible for all the problems?

• The sole proprietor makes all the decisions and is responsible for all the problems.

• The board of directors makes all the decisions and is responsible for all the problems.

• The shareholders make all the decisions and are responsible for all the problems.

• The employees make all the decisions and are responsible for all the problems.

Which of the following is an example of a sole proprietorship?

• Coca-Cola

• Walmart

• FBI

• Lindstrom's Bed & Breakfast

What is the form of ownership in which 2 or more people own the business?

• Partnership

• Sole Proprietorship

• Corporation

• Franchise

Who are the people involved in a partnership?

• The people involved in a partnership are typically the partners themselves, which can include individuals, businesses, or organizations that have agreed to work together for a common purpose.

• The people involved in a partnership are usually only individuals who have no business interests.

• The people involved in a partnership are always government officials.

• The people involved in a partnership are only family members working together.

Which of the following businesses can be called a partnership?

• Law firms

• Hospitality business

• Both A and B

• None of the above

What does the concept of 'Partnership' mean?

• A business relationship between two or more individuals

• A type of loan agreement

• A form of government

• A marketing strategy