Font size
WorksheetsBusiness Organization Review
Total questions: 22
Worksheet time: 11mins
Keeps all profits for self
Sole Proprietorship
Partnership
Corporation
Double Taxation
Sole Proprietorship
Partnership
Corporation
Complex and expensive to set up
Partnership
Corporation
Sole Proprietorship
Corporation and Partnership
Unlimited Liability
Partnership
Corporation
Sole Proprietorship
Sole Proprietorship and Partnership
Hard to raise funds to start and expand
Sole Proprietorship and Corporation
Sole Proprietorship
Partnership and Corporation
Corporation
Limited Liability
Corporation
Partnership
Sole Proprietorship
All of the Above
Can exist indefinitely
Partnership
Sole Proprietorship
Corporation
Partnership and Corporation
Death of owner ends the business
Partnership
Sole Proprietorship
Corporation
Sole Proprietorship and Partnership
Business income is considered personal income
Partnership
Corporation
Sole Proprietorship
Partnership and Sole Proprietorship
Easiest type of business to start
Corporation
Sole Proprietorship
Partnership
Corporation and Partnership
Requires a charter from the state government
Corporation
Sole Proprietorship
Partnership
None of the above
Does not have to pay a separate tax on business profits
Corporation
Sole Proprietorship and Partnership
Partnership
Franchise
Ownership and management are separate
Sole Proprietorship
Partnership
Partnership and Corporation
Corporation
Has two or more owners but does not issue stock
Corporation
Partnership
Sole Proprietorship
Franchise
What is the Purpose of the stock market?
Raise Capital for Businesses
Regulate the Exchange of Stocks
Make Stockholders Money
Why do people invest in stocks?
So their money can grow in value over time
To become rich
To own the company
Why would a company choose to become a public corporation?
Raise Money
Spread the risk of ownership among a large group of shareholders
To have them listed on the stock exchange
What government agency regulated stock trading activity?
The Securities and Exchange Commission
Prospectus
Department of Commerce
What is one advantage to owning a Franchise
Buying Power
Operating Standards
Royalty Fees
Limited Product Line
What is one disadvantage of owning a Franchise?
Brand Recognition
Training Support
Purchasing Restrictions
National Advertising
What is an advantage to having a LLC?
It is not widely accepted
It is difficult to transfer
Its filing fee is usually higher than corporations
It does not pay taxes
What is one disadvantage to a LLC?
They are personally not liable for the company debts
It does not require much paper work
It is difficult to transfer
it does not pay taxes
