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Business Structures - True or False

Authored by Christie Milam

Business

10th Grade

Used 1+ times

Business Structures - True or False
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50 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

About 85 percent of all business firms in the United States are sole proprietorships.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Unlimited liability holds a sole proprietor personally responsible for all the debts of the business.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

If the owner of a sole proprietorship retires or dies, the owner's heirs may take over the business and either sell it or continue to operate it.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

A banker or lender is more likely to make sizable loans to a sole proprietor than to a partnership.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

The weakness of one partner may be offset by another partner's strength.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Because there are two or more people in a general partnership, bankers and suppliers are not concerned about unlimited liability.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

A corporation is an artificial person created by law.

True

False

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