WorksheetsBUSINESS STRUCTURES
Total questions: 10
Worksheet time: 19mins
What is a form of business ownership in which 2 or more people jointly owns a business
Sole Proprietorship
Company
Partnerships
The major policy and financial decision makers of a corporation are determined by the...
CEO/GM/President
Chairman of the board
Shareholders
Board of Directors
Name the entity that has a separate legal person from its members, and these members are only liable for the cost of the shares they have purchased
Partnership
Sole Trader
Limited Liability Company
Franchise
The owners share the risks and the profits
Proprietorship
Partnership
Corporation
None of the above
Advantage of this business is that owner keeps all the profit and is his own boss
Partnership
Sole proprietorship
Corporation
Franchise
-Governed by Board of Directors
-CEO, COO, CFO
-Stocks sold to raise capital
-Unlimited Personal Liability
-No separation between owners and business
-Must adhere to corporate standards
-Privately owned locations but associated with a larger, more recognizable brand
This type of business is created to provide a service, not to make a profit.
non-Profit
Partnership
Corporation
Sole Proprietorship
