Business Concepts and Roles
Authored by ANGELA KACULI
Business
11th Grade
Used 46+ times
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A Limited Liability Partnership (LLP) is:
a type of business entity that combines the features of a partnership and a corporation.
a type of business entity that is owned by shareholders and managed by a board of directors.
a type of business entity that is owned and operated by a single individual.
a type of business entity that is primarily used for non-profit organizations.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An S-Corporation is:
A type of corporation that is not double taxed and has fewer than 100 shareholders
A corporation that is taxed as a partnership
A corporation that is not subject to corporate income tax
A corporation that is only available in certain states
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A Limited Liability Company (LLC) is:
a type of corporation with limited liability for owners
a partnership with unlimited liability
a sole proprietorship with limited liability
a non-profit organization
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A Nonprofit Organization is:
a business entity that aims to make a profit for its owners
an organization that operates for a collective, public or social benefit, rather than to earn profits for owners
a government agency that enforces laws and regulations
a private company that provides goods and services for profit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A Franchise is:
a type of business model where individuals purchase the rights to open and operate a location of a larger company.
a type of investment strategy focused on buying stocks.
a method of personal branding.
a government-issued permit for a specific activity.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What role do businesses play in providing employment in the U.S. economy?
Businesses are the primary source of employment in the U.S. economy.
Businesses have no role in providing employment in the U.S. economy.
Businesses play a minor role in providing employment in the U.S. economy.
Businesses only provide employment in the manufacturing sector.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do businesses compensate owners and investors?
Through dividends and profit sharing
By providing free products
By offering discounts
Through social media promotions
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