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Business Structures Quiz

Authored by Kelly Strich

Business

12th Grade

Used 3+ times

Business Structures Quiz
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50 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business is owned and operated by one person?

Partnership

Corporation

Sole Proprietorship

Limited Partnership

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which business type involves shared responsibilities and expertise?

Sole Proprietorship

Partnership

Corporation

Limited Partnership

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a general partnership, what do partners share?

Limited liability

Equal liability

No liability

Double taxation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a characteristic of a sole proprietorship regarding taxes?

Lower taxes (taxed as personal income)

Double taxation

No taxes

Shared taxes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an acquisition?

One company buys another

Two companies merge in the same industry

Two companies merge at different stages of the supply chain

Two companies merge in unrelated industries

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is risk-taking in the context of business?

Avoiding any potential loss

Investing time, money, and effort into ventures that may not always succeed

Ensuring guaranteed success

Minimizing all efforts

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a tax advantage for small business owners?

Higher tax rates

No tax benefits

Qualifying for certain tax breaks and deductions

Paying more taxes than employees

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