WorksheetsTypes of Businesses Quiz (MC)
Total questions: 20
Worksheet time: 40mins
The most common type of business organization in the United States in the _________.
corporation
partnership
sole proprietorship
A _________ acts like business, but its purpose is to benefit society.
Franchise
Limited Liability Partnership
Nonprofit organization
corporation
A __________ takes place when firms involved in different steps of manufacturing or marketing come together.
horizontal merger
diagonal merger
circular merger
vertical merger
What is a cooperative?
a semi-independent business that buys the right to run a franchise
a business operated for the shared benefit of its owners, who are also its customers
a business that licenses the right to sell its products in a particular area
an institution that acts like a business organization but which does not make a profit
What is it called when companies that produce the same product merge?
multinational corporation
vertical merger
conglomerate
horizontal merger
What is the name for an individual who owns a share of a corporation and is entitled to part of its profits?
stockholder
president
officer
director
What is a potential disadvantage of corporations?
Limited liability
Easier expansion financing
Subject to more paperwork
Considered an individual
In a corporation, who is responsible for major decision-making?
Partners
Shareholders
Board of Directors
Employees
This is a type of business in that pays fees to a parent company in return for the right to sell a certain product or provide a certain, specific service.
Non-profit
Cooperative
Franchise
Proprietorship
