WorksheetsBusiness Forms
Total questions: 15
Worksheet time: 45mins
How Many Owners Are In a Sole Proprietorship?
Entrepreneurship
One Owner
Two Owners
Shareholders
Magic and Cam have a product they would like to sell. They decide to share the risks and profits by forming an unincorporated business. The business organization formed was?
Partnership
Corporation
Entrepreneurship
Sole Proprietorship
Who Makes The Operating Decisions In A Partnership?
The Manager
Corporation Officers
General Partners
The Owner
Rank the business organizations based on what's best for decision making for one owner
Corporation-Sole Proprietorship-Partnership
Partnership-Corporation-Sole Proprietorship
Sole Proprietorship-Partnership-Corporation
Partnership-Sole Proprietorship-Corporation
A Publicly Held Corporations has?
no legal identity beyond that of its owners.
stockholders who rarely trade their shares of stock
a few stockholders who are often family members
many shareholders who can buy or sell its stock.
What is an advantage that both partners who own a partnership have that the owner of a sole proprietorship may not have?
no need to follow government regulations
better access to capital
ease of start-up
no need to hire employees
An unincorporated business owned by a single person, which may or may not have employees, is what type of business form?
Partnership
Corporation
S-corporation
Sole Proprietorship
Corporate stockholders are not responsible for the debts of the corporation. What type of example is this?
Dividends
Partnerships
Limited Liability
Unlimited Liability
Ronald and AJ have a great business idea. They have some money to invest and hope to find more people interested in investing and shareholding. They are worried about the legal aspects and the liability. What type of business form should Ronald And AJ make?
Corporation
Monopoly
Partnership
Proprietorship
How do corporations raise capital?
through grants from the board of directors
by taking out loans against the owners’ assets
by selling stocks and bonds
by transferring funds from the owners to the investors
What Is The Lifespan Of A Sole Proprietorship?
Upon The Death Of Owner
Establishing A Agreement
When There is no Corporation Officers
Until There's no more workers
Which is a disadvantage of sole proprietorships?
few regulations
full control
easy to start and end
limited access to resources
a business is owned by two partners. What ability does each partner need that a sole proprietor would not need?
ability to collaborate with an equal
management expertise
advertising expertise
decision-making ability
A Disadvantage Of A Corporations ?
Requires legal advice and fees to establish/maintain
May have differences of opinions or disagreements
Responsible for all decisions and all debts
Unlimited liability
What Type Of Liability Do Sole Proprietorship Have?
Unlimited Liability
Joint Liability
Limited Liability
Taxes
