WorksheetsCE.12c Quiz
Total questions: 15
Worksheet time: 17mins
Name
Class
Date
1.
In a proprietorship, the profits are kept by -
a)
two people
b)
a group of people
c)
one person
d)
the government
2.
A person who takes a risk to produce goods and services in search of profit -
a)
entrepreneur
b)
magistrate
c)
profiteer
d)
baliff
3.
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
4.
In which type of organization does one person take all the risks?
a)
corporation
b)
partnership
c)
monopoly
d)
proprietorship
5.
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
6.
A form of business organization with two or more owners who share the risks and the profits -
a)
proprietorship
b)
corporation
c)
wholesale
d)
partnership
7.
Which is NOT a basic type of business ownership?
a)
proprietorship
b)
partnership
c)
corporation
d)
retail
8.
Julie buys used clothes at garage sales and then auctions them off herself off the internet. Which type of business does she have?
a)
partnership
b)
proprietorship
c)
corporation
d)
conglomerate
9.
A form of business organization with two or more owners who share the risks and the profits -
a)
proprietorship
b)
corporation
c)
wholesale
d)
partnership
10.
In 2000, the Heinz Corporation began selling purple ketchup. Sales were low and within a few years Heinz stopped selling it. Which characteristic of our economy was demonstrated in this example?
a)
Private Property
b)
Consumer Soveregnity
c)
Profit
d)
Competition
11.
What type of business may an entrepreneur choose to have?
a)
Proprietorship
b)
Corporation
c)
Partnership
d)
All of the above
12.
What term describes a company that is authorized to operate as a legal person?
a)
corporation
b)
partnership
c)
entrepreneurship
d)
proprietorship
13.
An entrepreneur is a person who -
a)
owns a business controlled by the government
b)
shares the risk of producing goods with the government
c)
buy shares of a business
d)
takes a risk to earn a profit
14.
Entrepreneurs foster..... (two answers)
a)
Technological Progress
b)
Economic Growth
c)
Children
15.
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
100 %
