
Business Organization Quiz 4
Authored by Saleh Mahdy
Business
11th Grade
Used 1+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a corporation?
A company that is registered by a state and operates apart from its owners.
A company that is owned and operated by its members.
A company that focuses on providing a service, but not to make a profit.
A contractual agreement to use the name and sell the products or services of a company in a designated geographical area.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is a corporation formed?
Owners must get a corporation charter from the state and have a board of directors.
Two or more people agree to jointly own a business.
One person owns and operates the business.
A group of people come together to provide a service.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an advantage of a corporation?
Owners have limited liability.
Easy to start.
Shared responsibilities.
Complete control over the business.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of a corporation?
Double taxation.
Unlimited liability.
Disagreements may occur between business partners.
Lack of continuity.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the different types of business organizations?
Sole proprietorship, partnership, corporation.
Producer, processor, manufacturer, intermediary, service business.
Production, procurement, marketing, management, finance.
Cooperative, nonprofit organization, franchise.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the six types of businesses?
Sole proprietorship, partnership, corporation, cooperative, nonprofit organization, franchise.
Producer, processor, manufacturer, intermediary, service business, nonprofit organization.
Production, procurement, marketing, management, finance, accounting.
Cooperative, nonprofit organization, franchise, production, procurement, marketing.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the five functions of business?
Sole proprietorship, partnership, corporation, cooperative, nonprofit organization.
Producer, processor, manufacturer, intermediary, service business.
Production, procurement, marketing, management, finance.
Cooperative, nonprofit organization, franchise, production, procurement.
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