Chapter 3 Bus. Orgs (2025)

Chapter 3 Bus. Orgs (2025)

12th Grade

20 Qs

quiz-placeholder

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Chapter 3 Bus. Orgs (2025)

Chapter 3 Bus. Orgs (2025)

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Easy

Created by

Kevin Duke

Used 19+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

List the 3 Types of Business organizations:

Sole Proprietorships, Partnership, Corporation

Sole Proprietorships, Partnership, LLC

Sole Proprietorships, Corporation, LLC

Partnership, Corporation, LLC

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ______ is a business run by one person.

sole proprietorship

partnership

corporation

limited liability company

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A sole proprietorship is the ______ business organization in size but the most numerous & profitable.

largest
medium-sized
smallest
corporate

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What are advantages of a sole proprietorship?

Easy to start up

ease of management & owner gets all the profits

closing the business is easy

Complex regulations and high start-up costs

no liability

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one disadvantage of a sole proprietorship?

Unlimited liability

Complex tax structure

Difficult to form

Shared decision making

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business jointly owned by two or more persons is called a ______.

partnership

corporation

sole proprietorship

franchise

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

List the two types of partnerships:

General & Limited Partnerships

General & Specific Partnerships

Limited & Unlimited Partnerships

General & Unlimited Partnerships

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