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WorksheetsBusiness Ownerships & types of businessess
Total questions: 22
Worksheet time: 19mins
Disadvantages of this type of business include: parent company is strict, you are limited in what you sell, and you must operate like every other franchise.
Sole Proprietorship
Partnership
Corporation
Franchise
How is a corporation different from a sole proprietorship or partnership?
A corporation has only one or two owners.
A corporation is usually owned by one person.
A corporation requires a legal charter with the state.
The owners (stockholders) have limited liability.
No paperwork (charter or agreement) is required to start which type of business?
Partnership
Franchise
Sole Proprietorship
Corporation
Which type of business allows the owner to keep all of the profit for him/herself?
Partnership
Franchise
Sole Proprietorship
Corporation
What is a Sole Proprietorship?
A business where 2 or more people share ownership
A business owned by shareholders
A business that is owned by one individual
Which type of business does NOT provide physical goods to a customer?
Goods business
Service business
Tangible business
A type of business that is engaged in buying and selling goods by changing the form of the product through a certain conversion process.
Merchandising
Manufacturing
Service
Finance
Infrastructure
Fast Eddie decided to create a store @ KP selling firecrackers to teens. What type of business would this be?
Web-based
Service
Merchandising
Corporation
