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WorksheetsWyatt CE 12ab Quiz Review
Total questions: 15
Worksheet time: 7mins
Name
Class
Date
1.
Finn has 3,000. He wants to invest his money in a business that has the least amount of risk. Which should he invest?
a)
coropration
b)
partnership
c)
proprietorship
d)
entrepreneurship
2.
In a proprietorship profits are kept by -
a)
one person
b)
two people
c)
the government
d)
a group of people
3.
Which is an example of a proprietorship-
a)
Alexandria owning a candy store. She is responsible for the debts
b)
Vilma and Casey owning a bookstore
c)
Jayla & Jasmine owning a cell phone kiosk
d)
Damon owns stock in Nike. She gets a portion of the profits
4.
How many basic ways are there that businesses organize to earn profits?
a)
One
b)
Two
c)
Three
d)
Four
5.
What is a form of business organization with one owner who takes all the risks and all the profits?
a)
Proprietorship
b)
Partnership
c)
Corporation
d)
Business
6.
What is a form of business organization with two or more owners who share the risks and the profits?
a)
Proprietorship
b)
Partnership
c)
Corporation
d)
Business
7.
What is a form of business organization that is authorized by law to act as a legal entity regardless of the number of owners. Owners share the profits.
a)
Proprietorship
b)
Partnership
c)
Corporation
d)
Business
8.
What kind of business is BEST described by these statements?
I am the only owner of my business.
I take all the risks of doing business.
I keep all the profits.
I am the only owner of my business.
I take all the risks of doing business.
I keep all the profits.
a)
proprietorship
b)
corporation
c)
partnership
d)
cooperative
9.
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
10.
Which is NOT a part of the economic flow of the United States economy?
a)
Resources
b)
Strength
c)
Goods and services
d)
Money
11.
What can people and businesses do to increase consumption later?
a)
Save and invest
b)
Spend and retire
c)
Buy and sell
d)
Parkour!!
12.
According to the notes, who owns the resources used in production?
a)
Individuals
b)
Businesses
c)
The government
13.
According to the notes, who makes products and sells them?
a)
Individuals
b)
Businesses
c)
The government
14.
According to the notes, who uses tax revenue to provide goods and services?
a)
Individuals
b)
Businesses
c)
The government
15.
What score do you need to pass the SOL?
a)
375
b)
385
c)
399
d)
400 or better
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