Business Ownership Types Quiz
Authored by Amy Robinson
Arts
12th Grade
Used 13+ times
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business that is owned equally by three people is categorized as which type of ownership?
Corporation
Sole Proprietorship
Partnership
Franchise
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of business has been granted a charter from the state?
Partnership
Corporation
Sole Proprietorship
Cooperative
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which type of business are shareholders not responsible for debts?
Sole Proprietorship
Partnership
Corporation
Limited Liability Company
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business owned and operated by one person is known as what?
Corporation
Partnership
Sole Proprietorship
Joint Venture
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which business agreement ends if one of the four owners dies or leaves?
Corporation
Partnership
Sole Proprietorship
Limited Partnership
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which type of business does one person have final authority on all decisions?
Corporation
Partnership
Sole Proprietorship
Cooperative
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business has most of the rights and responsibilities of a real person?
Partnership
Corporation
Sole Proprietorship
Nonprofit Organization
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