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WorksheetsBusiness Structures Review
Total questions: 10
Worksheet time: 10mins
Name
Class
Date
1.
-Owned by a single owner
-No separation between owner and business
-Unlimited personal liability
-No separation between owner and business
-Unlimited personal liability
a)
Corporation
b)
Limited Liability Company
c)
Partnership
d)
Sole Proprietorship
2.
-Publicly traded company
-Governed by Board of Directors
-CEO, COO, CFO
-Stocks sold to raise capital
-Governed by Board of Directors
-CEO, COO, CFO
-Stocks sold to raise capital
a)
Corporation
b)
Limited Liability Company
c)
Partnership
d)
Cooperative
3.
-One or more owners
-Limited personal liability
-Must be legally dissolved/reformed when ownership changes
-Limited personal liability
-Must be legally dissolved/reformed when ownership changes
a)
Partnership
b)
Limited Partnership
c)
Corporation
d)
Limited Liability Company
4.
-Two or more owners
-Unlimited Personal Liability
-No separation between owners and business
-Unlimited Personal Liability
-No separation between owners and business
a)
Limited Partnership
b)
Corporation
c)
Cooperative
d)
Partnership
5.
-Organization made up of many smaller firms
-Operated democratically (all firms get one vote)
-Provided subsidies/lower tax rates by the Government
-Operated democratically (all firms get one vote)
-Provided subsidies/lower tax rates by the Government
a)
Corporation
b)
Cooperative
c)
Limited Liability Company
d)
Limited Partnership
6.
-General Partner provides business skill/talent
-Silent Partner provides capital
-Silent Partner enjoys limited personal liability
-Silent Partner provides capital
-Silent Partner enjoys limited personal liability
a)
Partnership
b)
Limited Liability Company
c)
Limited Partnership
d)
Joint Venture
7.
-Subject to high start-up and royalty fees
-Must adhere to corporate standards
-Privately owned locations but associated with a larger, more recognizable brand
-Must adhere to corporate standards
-Privately owned locations but associated with a larger, more recognizable brand
a)
Franchise
b)
Limited Partnership
c)
Corporation
d)
Joint Venture
8.
-Comprised of two preexisting companies
-Resources and talent pooled to achieve business objectives
-Business relationship is temporary; profits shared
-Resources and talent pooled to achieve business objectives
-Business relationship is temporary; profits shared
a)
Partnership
b)
Limited Partnership
c)
Franchise
d)
Joint Venture
9.
In a Limited Partnership, the limited partner is also known as the:
a)
Financier
b)
Monopolist
c)
Venture Capitalist
d)
Silent Partner
10.
"A company's financial debt or obligations that arise during the course of its operation..."
This definition best describes...
This definition best describes...
a)
Profit
b)
Revenue
c)
Liability
d)
Lateral Alignment
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