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ENTRE I Unit 1

Authored by Cameron Ragsdale

Business

10th Grade

Used 3+ times

ENTRE I Unit 1
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22 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term refers to a legal entity that is separate from its owners and can own property, incur debt, and be sued?

Partnership

Corporation

Sole proprietorship

Franchise

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a merger?

The process of starting a new business

The combination of two or more companies into one

The sale of a business to a franchisee

The dissolution of a partnership

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best defines a limited-liability company (LLC)?

A business owned by the government

A business structure that offers limited liability to its owners

A type of corporation with unlimited liability

A business owned by a single person

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a business-format franchise?

A franchise that only sells products

A franchise that provides a complete method for operating the business

A franchise that is owned by the government

A franchise that does not use a trade name

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a purpose of forming a partnership?

To avoid sharing profits

To combine resources and expertise

To limit the number of owners

To increase government control

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a type of partnership arrangement?

General partnership

Sole proprietorship

Corporation

Franchise

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an advantage of a sole proprietorship?

Limited liability

Complete control by the owner

Double taxation

Shared decision-making

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