WorksheetsBusiness Ownership Types Test Review
Total questions: 26
Worksheet time: 13mins
A share of ownership in a corporation is known as a
Stock
Bond
Dividend
Ownership
An organization that generates revenue is known as a:
Business
Corporation
For-profit organization
Non-profit organization
Governmental organizations, schools, and the military are examples of which type of organization?
Private Sector
State Sector
Public Sector
Non-Profit organization
Which type of business purchases large quantities of products to sell in smaller quantities?
Retailer
Wholesaler
Seller
Intermediaries
A business that buys products from wholesalers to sell to consumers
Retailers
Manufactures
Producers
Sellers
DBA stands for
Doing Business As
Doing Best Accounting
Do Business As
Doing Business Accounting
Who uses supplies from producers to make products for businesses
Manufacture
Producers
Retailers
Wholesalers
Two or more persons who co-own a business is called a:
Partnership
Limited Liability
Proprietorship
A share of ownership in a corporation is known as a
Stock
Bond
Dividend
Asset
A business owned and operated by one individual is called a
Sole Proprietorship
Corporation
Partnership
Cooperative
An organization that generates revenue is called a:
For-profit organization
Non-profit organization
Public sector
Government agency
Governmental organizations, schools, and the military are examples of which sector?
Public Sector
Private Sector
For-profit Sector
Retail Sector
NAICS stands for
North American Industry Classification System
National Association of Industrial Commerce Standards
North American International Commerce Society
National American Industry Commerce System
An organization that exists to serve the public through free services is called a:
Non-Profit Organization
Retailer
Wholesaler
Corporation
A business that buys products from wholesalers to sell to consumers is known as:
Retailers
Manufacturers
Non-Profit Organizations
Distributors
Business only exists on paper, but it can act as its own behalf. What is this type of business called?
Corporation
Sole Proprietorship
Partnership
Franchise
What does DBA stand for in business terminology?
Doing Business As
Direct Business Agreement
Daily Business Activity
Department of Business Affairs
Who uses supplies from producers to make products for businesses?
Manufacture
Retailer
Consumer
Distributor
What are the three basic forms of ownership?
Sole Proprietorship, Partnership, Corporation
Franchise, Partnership, Cooperative
Corporation, Franchise, Nonprofit
Sole Proprietorship, Cooperative, Nonprofit
Two or more persons who co-own a business form a:
Partnership
Corporation
Sole Proprietorship
Franchise
A business owned by only one person
Partnership
Franchise
Corporation
Sole Proprietorship
Which of the following is NOT a type of business ownership?
Sole proprietorship
Partnership
Corporation
Monopoly
What is a key disadvantage of a sole proprietorship?
Complex tax filing.
Limited access to capital.
Shared decision-making.
High start-up costs.
Which business structure is characterised by limited liability and separate legal identity?
Sole proprietorship
Partnership
Corporation
Cooperative
Which of the following is a key advantage of a partnership?
Limited liability for all partners.
Easier to raise capital compared to a sole proprietorship.
No need to share profits.
Complete control by one partner.
