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WorksheetsTypes of Organizations
Total questions: 13
Worksheet time: 17mins
Income from a sole proprietorship is
not taxed
taxed twice
taxed three times
taxed once
One of the disadvantages of having a partnership is .
double taxations
high startup costs
tax on dividends
unlimited liability
A major advantage for having a corporate is having _____________ liability
unlimited
restricted
limited
unrestricted
A contractual agreement to use the name and sell the products or services of a company in a designated geographic area is called a___________
Franchise
Cooperative
Non for profit
Corporation
An organization that is owned and operated by its members is a_________________________
Corporation
Cooperative
Franchize
Non for profit organization
The easiest way to organize a business is as a___________
Corporation
sole proprietorship
partnership
Franchise
Which is NOT an advantage of forming a corporation?
The company continues even after one owner dies.
There is limited liability for the founder
Raising capital for startup is easier.
Profits are taxed twice: at the corporate level and at the shareholder level.
In order to become a corporation, what must a business have?
over 500 employees
double taxation
a corporate charter
stock certificates
Which business structure contains both the benefits of a small business and a corporation?
Cooperative
Car Sharing
Franchise
non for profit organization
Nonprofit organizations
focus on providing services rather than making a profit.
outnumber sole proprietorships in the United States.
must still pay taxes.
do not register with the government.
All of these are examples of (a)
Compare and Contrast partnerships and corporations using real life examples for each
If you will open an organization, which type of organizations will you start and explain why?
