
Business Structures Test
Authored by Tony Butorac
Business
9th Grade
Used 2+ times

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23 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A sole proprietorship is the easiest and least expensive business structure to set up.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a partnership, all partners always share profits and losses equally.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A corporation is considered a separate legal entity from its owners.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An LLC provides limited liability protection to its owners.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sole proprietors have unlimited personal liability for business debts.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Corporations face “double taxation” because profits are taxed at both the corporate and personal level.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which business structure is owned by one individual?
Partnership
Corporation
Sole Proprietorship
LLC
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