Business Structures Quiz

John is starting a small bakery and wants to have complete control over the business decisions and profits. Which type of business structure should he consider?

• Corporation

• Sole Proprietorship

• Partnership

• Limited Liability Company

Emily and Sarah are planning to open a boutique together. They want to share the responsibilities and profits equally. Which business structure is most suitable for them?

• Sole Proprietorship

• Corporation

• Partnership

• Limited Liability Company

Michael wants to start a tech company and is concerned about personal liability. He also wants to attract investors by issuing shares. Which business structure should he choose?

• Sole Proprietorship

• Partnership

• Corporation

• Limited Liability Company

Lisa is considering starting a freelance graphic design business. She wants to keep things simple and avoid complex regulations. Which business structure is most appropriate for her?

• Corporation

• Sole Proprietorship

• Partnership

• Limited Liability Company

Tom and Jerry want to start a business together but are worried about personal liability. They also want the flexibility of a partnership. Which business structure should they consider?

• Sole Proprietorship

• Corporation

• Partnership

• Limited Liability Company

Which of the following business structures is considered a separate legal entity from its owners, providing them with limited liability?

• Sole Proprietorship

• Partnership

• Corporation

• Limited Liability Company

Anna wants to start a business where she can enjoy the tax benefits of a partnership but also have limited liability protection. Which business structure should she choose?

• Sole Proprietorship

• Corporation

• Partnership

• Limited Liability Company

Which business structure allows for the easiest transfer of ownership through the sale of stock?

• Sole Proprietorship

• Corporation

• Partnership

• Limited Liability Company

David is a sole proprietor and wants to expand his business by bringing in a partner. What will his business structure change to if he does this?

• Corporation

• Sole Proprietorship

• Partnership

• Limited Liability Company

Which business structure is typically subject to double taxation, where both the company and the shareholders are taxed?

• Sole Proprietorship

• Corporation

• Partnership

• Limited Liability Company