
Quiz on Sole Proprietorship
Authored by zadock awuor
Business
10th Grade

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a sole proprietorship?
A corporation owned by shareholders
A type of business owned by one person
A non-profit organization
A business owned by multiple partners
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of a sole proprietorship?
Large scale operations
Complex formation
Unlimited liability
Limited liability
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one advantage of a sole proprietorship?
Limited personal control
Fast decision making
Access to large loans
High operational costs
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of a sole proprietorship?
Easy to start
Unlimited liability
Limited personal control
Ability to share profits
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a source of capital for a sole proprietorship?
Selling shares
Government grants
Borrowing from friends
Venture capital
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When might a sole proprietorship be appropriate?
When the market is large
When the investor has limited capital
When requiring multiple owners
When seeking to expand rapidly
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term 'dissolution' refer to in the context of a sole proprietorship?
The end of a business
The process of expanding the business
The increase of business profits
The hiring of new employees
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