NEW
Font size
S
M
L
XL
WorksheetsBusiness Ownership
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
What is the most common form of business ownership?
a)
Corporation
b)
Company
c)
Sole Proprietorship
d)
LLC
2.
In a sole proprietorship, income and expenses are included on what for the owner?
a)
Personal tax return
b)
Corporate tax return
c)
W-2
d)
I-9
3.
What is one perk a sole proprietorship does not have access to?
a)
Employer-funded health insurance
b)
Tax Breaks
c)
Both
4.
What is a form of business ownership in which 2 or more people jointly owns a business
a)
Sole Proprietorship
b)
Company
c)
Partnerships
5.
According to the US Census Bureau, how many partnerships existed in the US in 2008?
a)
500,000
b)
3.1 Million
c)
1 Million
d)
2 Million
6.
What is a form of general partnership formed for a short period of time?
a)
Limited Partnership
b)
Curtailed Partnership
c)
Joint Venture
d)
Timed Partnership
7.
What type of business can be designated as profit or non-profit?
a)
Corporation
b)
Company
c)
Sole Proprietorship
d)
LLC
8.
What is the name of a person who owns part of a corporation?
a)
Stakeholder
b)
Shareholder
c)
Trust Agent
d)
Chairman
9.
What kind of corporation can be taxed in the same way as a partnership
a)
A Corporation
b)
"B" Corporation
c)
"C" Corporation
d)
"S" Corporation
10.
What type of corporation combines the benefits of a partnership and a corporation?
a)
Limited Liability Company
b)
Trust
c)
Company
Reset
