WorksheetsForms of Business Ownership Unit 2
Total questions: 12
Worksheet time: 9mins
What is the primary role of government regulations in business?
To increase business profits
To ensure fair competition and protect stakeholders
To eliminate small businesses
To promote monopolies
Which agency is responsible for environmental regulations?
FDA
BBB
OSHA
EPA
What is a key characteristic of successful entrepreneurs?
Avoiding risks
Being innovative and adaptable
Following traditional methods
Focusing solely on profits
Which of the following is a type of business ownership?
All of the above
Sole proprietorship
Corporation
Franchise
What is franchising?
A type of government regulation
A form of business ownership
A business model where a franchisee uses an established brand
A method of starting a business from scratch
What is the main advantage of a franchise model for a franchisee?
Complete independence in business operations
Access to an established brand and support system
Ability to set their own pricing without restrictions
Freedom to change the business model at will
What did you learn from Unit 2 Forms of Business Ownership in three complete sentences?
What is a common characteristic of a corporation?
Owned by a single individual
Limited liability for its owners
Easy to form and dissolve
Direct control by all shareholders
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
This government agency regulates the safety of our food & drugs
Federal Trade Organization
Food & Drug Administration
Small Business Administration
Department of Consumer Protection
What is the primary benefit of limited liability in a corporation?
Owners can easily transfer ownership without restrictions
Owners have unlimited control over business operations
Owners are personally responsible for all debts
Owners can lose only their investment in the business
What is a key feature of a partnership?
Owned by a single individual
Shared decision-making among partners
Limited liability for all partners
Ownership by shareholders
