Types of Businesses

Which type of organization is primarily concerned with social causes rather than profit?

• For-profit corporation

• Non-profit organization

• Partnership

• Sole proprietorship

Over 2 million people own stock in American Steel; what type of business is it?

• Sole Proprietorship

• Partnership

• Corporation

Maria is using her savings to open a shop selling clothing from Mexico. What type of business is it?

• Sole Proprietorship

• Partnership

• Corporation

Louise and Susan are meeting to plan a new advertising campaign for the town newspaper they own. What type of business do they have?

• Sole Proprietorship

• Partnership

• Corporation

What is a semi-independent business that pays fees to a parent company called?

• Franchise

• Sole proprietorship

• Cooperative

• Conglomeration

Which of the following is a business that is run like a corporation but does not make money?

• a cooperative

• a labor union

• a non-profit organization

• a professional organization

A father wants to take his son into the business with him should form this type of business.

• Sole Proprietorship

• Partnership

• Corporation

Which type of business is owned and operated by a single individual?

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

What type of business structure involves two or more people sharing ownership and responsibilities?

• Sole Proprietorship

• Partnership

• Corporation

• Non-profit

Which type of business is legally considered a separate entity from its owners?

• Sole Proprietorship

• Partnership

• Corporation

• Cooperative