Business Structures Quiz

What is a key advantage of a corporation?

• Simplicity

• Limited liability

• Shared control

• Direct connection with customers

Which business structure is known for easier access to capital through the sale of stocks and bonds?

• Sole proprietorship

• Partnership

• Corporation

• Cooperative

Which business structure may have its existence independent of its shareholders?

• Sole proprietorship

• Partnership

• Corporation

• Limited liability company (LLC)

What is a significant disadvantage of corporations related to taxation?

• Double taxation

• Limited liability

• Simplicity

• Personal liability

Which business structure typically has the simplest setup and low operating costs?

• Partnership

• Corporation

• Sole proprietorship

• Limited partnership