Business Ownership Quiz
Authored by B1240117 Guleed abdullahi maxamud
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91 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of a sole proprietorship?
Unlimited liability
Limited liability
Double taxation
Corporate formalities
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which form of ownership provides the owner with the greatest control over decision-making?
Partnership
Sole proprietorship
Corporation
Cooperative
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business structure offers the advantage of limited liability but is taxed as a partnership?
General partnership
Sole proprietorship
Limited liability company (LLC)
Corporation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of partnership includes at least one partner with unlimited liability and another with limited liability?
General partnership
Limited partnership
Sole proprietorship
Corporation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a disadvantage of a corporation?
Unlimited liability
Complex regulations and reporting
Pass-through taxation
Flexibility in management
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following forms of ownership is most likely to face double taxation?
Sole proprietorship
Partnership
Corporation
Limited Liability Company (LLC)
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a sole proprietorship, the owner's personal assets are at risk due to which of the following?
Limited liability
Transferability of shares
Unlimited liability
corporate veil
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