Unit 2 Review Part A ENT
Authored by Davelle Whitney
Business
9th Grade
Used 8+ times
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17 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a business owned by two or more people known as
Partnership
Sole Proprietorship
Limited Liability Company
NonProfit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many times would you be taxed in a Partnership?
Twice
Once
Double
Triple
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one downside of a Limited Partnership?
Pass through Taxiation
Wont have much say so on the day to day operations
Owned by two or more people
Limited to the amount of their investment
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False:
All limited partnerships must have at least one general partner who is subject to limited liability.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False:
In a General Partnership all owners are subject to unlimited liability for the company's debt and damages
True
False
It depends on the situation
If the General Partner is doing his job
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is not personally liable for the conduct of other partners or the debts and damage of the business?
Limited Liability partner
General Partner
Unlimited Liability partner
Everyone is responsible
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an unincorporated business entity owned and operated by a single individual?
Partnership
Sole Proprietorship
Limited Liability Company
General Partnership
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