
Business Ownership Quiz

Quiz
•
Other
•
12th Grade
•
Medium
Ahlem Chatti
Used 4+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a sole proprietorship?
A business owned by multiple partners
A business owned by a franchisee
A business owned by one person
A business owned by shareholders
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an advantage of partnerships?
More talent and money
Lack of continuity
Unlimited liability
Limited resources
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key disadvantage of corporations?
Simple decision making
Unlimited liability
Double taxation
Easy to set up
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business ownership has limited liability for its owners?
Franchise
Corporation
Partnership
Sole proprietorship
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a franchise?
A partnership between two companies
A type of corporation
A legal agreement allowing one business to operate under another's brand
A business owned by a single individual
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of a corporation?
Easy to form
No regulatory compliance
Limited liability for shareholders
Owned by a single individual
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of sole proprietorships?
Easy to set up
All profits go to the owner
Unlimited liability
Simple decision making
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