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FBM-4 Business Ownership & Decisions

Total questions: 15

Worksheet time: 9mins

Name
Class
Date
1.

Which of the following business types is owned by ONE person?

a)

Sole Proprietorship

b)

Partnership

c)

Corporation

d)

LLC

2.

Which of the following business types is owned by more than ONE person?

a)

Sole Proprietorship

b)

Partnership

c)

Corporation

d)

LLC

3.

Which of the following business types has the advantage of LIMITED LIABILITY?

a)

Sole Proprietorship

b)

Partnership

c)

Corporation

d)

LLC

4.

Which of the following business types has the disadvantage of UNLIMITED LIABILITY?

a)

Sole Proprietorship

b)

Partnership

c)

Corporation

d)

LLC

5.

Which of the following business types costs the MOST to setup?

a)

Sole Proprietorship

b)

Partnership

c)

Corporation

d)

LLC

6.

Which of the following business types is the EASIEST to setup?

a)

Sole Proprietorship

b)

Partnership

c)

Corporation

d)

LLC

7.

Which of the following business types experience DOUBLE TAXATION?

a)

Sole Proprietorship

b)

Partnership

c)

Corporation

d)

LLC

8.

Which of the following business types experience LIMITED LIABILITY?

a)

Sole Proprietorship

b)

Partnership

c)

Corporation

d)

LLC

9.

Which of the following business types has profits taxed ONCE?

a)

Sole Proprietorship

b)

Partnership

c)

Corporation

d)

LLC

10.

Which of the following business types operates and pays taxes like a proprietorship or partnership, but has limited liability for its owners?

a)

Sole Proprietorship

b)

Partnership

c)

Corporation

d)

LLC

11.

A literary work such as a book is protected by . . .

a)

Copyright

b)

Trademark

c)

Patent

12.

The above image is an example of a . . .

a)

Copyright

b)

Trademark

c)

Patent

13.

A government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention.

a)

Copyright

b)

Trademark

c)

Patent

14.

Windows Operating System is protected by . . .

a)

Copyright

b)

Trademark

c)

Patent

15.

A poem can be protected by . . .

a)

Copyright

b)

Trademark

c)

Patent