WorksheetsBusiness in the Private Sector
Total questions: 14
Worksheet time: 7mins
Name
Class
Date
1.
A business partnership has ___________ who share the risks and the profits.
a)
One owner
b)
No more than three owners
c)
Two or more owners
d)
Five or more owners
2.
In which of the following would one person be responsible for all of the risks but also receive all of the profits?
a)
Corporation
b)
Propreitership
c)
Partnership
d)
Dual owner business
3.
What do we call a person who is willing to take the risks of starting a business in order to make a profit?
a)
Proprieter
b)
Partner
c)
Entrepreneur
d)
Incorporater
4.
A form of business organization that is authorized to act as a legal entity regardless of the number of owners.
a)
corporation
b)
proprietorship
c)
partnership
d)
distributor
5.
In a corporation, owners share profit, but liability is limited to -
a)
investment
b)
distribution
c)
theft
d)
production
6.
What is a disadvantage of partnerships?
a)
ease of formation
b)
owners share responsibilities
c)
limited liability
d)
possibility of personality conflict
7.
The two types of producers are?
a)
Manufactures & intermediaries
b)
Extractors & intermediaries
c)
Extractors & Manufactures
d)
Wholesalers & retailers
8.
People and businesses that sell the goods and services from producers to customers are called ______________
a)
Market providers
b)
entreprenerus
c)
Business providers
d)
intermediaries
9.
A _________________ is a business that purchases large quantities of products directly from producers and sells the products in smaller quantities to retailers.
a)
Retailers
b)
Costco
c)
Wholesalers
d)
Business to business
10.
A market comprises all the possible customers who might buy a product or service.
a)
True
b)
False
11.
Which of the following is an example of a business that deals with B2B and B2C?
a)
Clothing shops
b)
Wholesalers
c)
Bank
d)
Supermarkets
12.
B2B means what?
a)
Bib and Braces
b)
Business to Building
c)
Boohoo online
d)
Business to business
13.
Corporation
a)
Owned by shareholders who purchase stock
b)
Small business owned by one person
c)
Business owned by 2 or 3 people
d)
Sole proprietor or partnership signs agreement with corporation to use its business plan and sell its merchandise in a geographic area
14.
B2C stands for?
a)
Business to Community
b)
Business to Customer
100 %
