
Understanding Business Ownership Types
Authored by Zane Cole
Social Studies
12th Grade
Used 4+ times

AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 8 pts
Who owns a sole proprietorship?
A board of directors
A single individual
Shareholders
Two or more individuals
2.
MULTIPLE CHOICE QUESTION
20 sec • 8 pts
In a partnership, how is control of the business typically shared?
By a single owner
By a board of directors
Equally among partners
By shareholders
3.
MULTIPLE CHOICE QUESTION
20 sec • 8 pts
What type of liability do shareholders in a corporation have?
Unlimited personal liability
Limited liability
Joint liability
No liability
4.
MULTIPLE CHOICE QUESTION
20 sec • 8 pts
How is income from a sole proprietorship taxed?
At the corporate tax rate
At the owner's personal income tax rate
At a partnership tax rate
It is not taxed
5.
MULTIPLE CHOICE QUESTION
20 sec • 8 pts
Who manages a corporation?
A single owner
Partners
A board of directors
Employees
6.
MULTIPLE CHOICE QUESTION
20 sec • 8 pts
What is the liability status of partners in a general partnership?
Limited liability
Unlimited personal liability
No liability
Liability only for their investment
7.
MULTIPLE CHOICE QUESTION
20 sec • 8 pts
How is income from a partnership taxed?
At the corporate tax rate
At the partnership level
Passed through to partners and taxed at individual rates
It is not taxed
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?