BUSINESS ETHICS G12

What is a sole proprietorship?

• Owned by one person

• Owned by multiple people

• A type of corporation

• A non-profit organization

What is a corporation?

• A business owned by one individual

• A legal entity separate from its owners

• A partnership between two companies

• A type of cooperative

Which business structure offers limited liability?

• Sole Proprietorship

• General Partnership

• Limited Liability Company (LLC)

• Cooperative

What is the main advantage of a partnership?

• Unlimited liability

• Shared resources and skills

• Easy to dissolve

• No need for a formal agreement

What does "joint venture" mean?

• A sole proprietorship

• A partnership for a specific project

• A type of non-profit

• A public corporation

What is a franchise?

• A type of partnership

• A business model where one party licenses another

• A non-profit organization

• A government-owned business

Which of the following is a characteristic of a cooperative?

• Owned by shareholders

• Operated for profit

• Owned and operated by its members

• Managed by a board of directors

What is the role of shareholders?

• To manage daily operations

• To provide loans to the business

• To own a portion of the corporation

• To supervise employees

What distinguishes a nonprofit organization?

• It aims to make a profit

• It operates for charitable purposes

• It is owned by a single individual

• It is subject to different tax regulations than businesses

What is business continuity?

• The process of opening new locations

• The ability to maintain operations during a crisis

• A financial strategy for growth

• A method for employee evaluation