Business Ownership and Franchise Quiz
Authored by Claire Crawford
Computers
11th Grade
NCCTE covered
Used 9+ times
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21 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business ownership is associated with public ownership?
Sole Proprietorship
Partnership
Corporation
LLC Corporation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a con of a Limited Liability Company (LLC)?
Easy startup
Hard to raise outside capital
No additional federal taxes
Protected from liability
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the benefits of forming a Limited Liability Company (LLC)?
Higher startup costs
Self-employment taxes
Easy startup
Hard to raise outside capital
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a benefit of a Limited Liability Company (LLC)?
Hard to raise outside capital
Higher startup costs
No additional federal taxes
Self-employment taxes
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the pros of forming a Limited Liability Company (LLC)?
Hard to raise outside capital
Higher startup costs
Protected from liability
Self-employment taxes
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does "double taxation" mean for a corporation?
Taxed once on profits
Taxed twice on profits and dividends
No taxes
Taxed only on dividends
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term "going public" imply for a corporation?
Becoming a private entity
Selling stock to the public
Closing the business
Reducing the number of stakeholders
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