Business Ownership Structures Quiz

Which of the following is a type of business ownership structure?

• Franchise

• Sole Proprietorship

• Non-profit Organization

• Limited Liability Company

Which of the following is a financial disadvantage of a sole proprietorship?

• High profits

• Limited ability to raise capital

• Tax benefits

• Full control over decisions

What does 'perpetual existence' mean for a corporation?

• The corporation dissolves when ownership changes

• The corporation continues to exist even if ownership changes

• The corporation exists only for a limited time

• The corporation must renew its existence annually

Which of the following is an example of a corporation?

• A local bakery

• A freelance graphic designer

• Apple

• A family-owned restaurant

Which of the following is NOT a disadvantage of a corporation?

• More complex to establish

• Subject to double taxation

• Limited liability

• Greater regulatory requirements

What is the primary purpose of a co-operative?

• To maximize profits for shareholders

• To empower members by giving them a say in operations and decisions

• To expand globally

• To reduce taxes

What is the main focus of Crown Corporations?

• Profit maximization

• Public service provision

• International trade

• Stock market growth

What is a key feature of a corporation?

• Control and simplicity

• Potential for growth and limited liability

• Member benefits focus

• Public service without a profit motive

Which of the following is not listed as a key responsibility?

• Financial oversight and resource allocation

• Leadership and team management

• Handling client relations

• Ensuring compliance with regulations

Which activity is part of handling client relations?

• Resource allocation

• Sales and marketing activities

• Financial oversight

• Leadership