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Worksheets12c Business Structures
Total questions: 10
Worksheet time: 5mins
Select the business characteristics of the business shown
Establish business in any way
Owners share risk
Liability limited to investment
Owners share profits
In search of profits
How many owners does a proprietorship have?
(a)
Which of the following statements is true about a corporation?
There are two owners
Corporations are looking to make a profit
Owner liability is limited to their investment
Corporations create new products
Coca-Cola must its profits with shareholders.
What type of business organization is being described?
Proprietorship
Corporation
Partnership
Entrepreneur
Tim is a baker who owns his own business, pays all the bills, and gets to keep all of the profits.
What type of business organization is being described?
Proprietorship
Corporation
Partnership
Entrepreneur
Margie and Seth decide to open a landscaping business together. These two owners will share the risks and the profits.
What type of business organization is being described?
Proprietorship
Corporation
Partnership
Entrepreneur
Which type of business is authorized to act as a legal entity, regardless of the number of owners?
Proprietorship
Corporation
Partnership
Entrepreneur
Which scenario best describes an entrepreneur?
Colin has a wood shop and makes tables to sell for money.
Curtis creates a new type of sports drink and wants to make a profit from it.
Walmart has a lot of investors and everyone gets a profit.
Jeremy and Brayden have a jet ski business and share profits.
An entrepreneur can establish their business in what ways?
Merger
Proprietorship
Corporation
Enterprise
Partnership
How many owners does a corporation have?
1 owner
2 owners
More than 2 owners
No owners, owned by the government
