Business Organizations 12th Grade Quiz

Business Organizations

Assessment

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Deleted User

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Social Studies

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12th Grade

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1K plays

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16 questions

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MULTIPLE CHOICE

1 min • 1 pt

This type of business is owned by one person.

MULTIPLE CHOICE

1 min • 1 pt

Advantages of this business type are that the owner is their own boss and gets to keep all the profits.

MULTIPLE CHOICE

1 min • 1 pt

Disadvantages for this type of business include: owner pays for everything, hard to get money to start from the bank, owner might lack skills & unlimited liability.

MULTIPLE CHOICE

1 min • 1 pt

A business owner who prefers to maintain complete control of all business activities might consider structuring the venture as a(n)

MULTIPLE CHOICE

30 sec • 1 pt

The disadvantages of this business organization include unlimited liability, difficulty raising financial capital, difficulty attracting qualified employees, and having a limited life

MULTIPLE CHOICE

1 min • 1 pt

A partnership in which all partners assume full personal liability for debts of the firm

MULTIPLE CHOICE

1 min • 1 pt

Partners who are only responsible up to the extent of their investment

MULTIPLE CHOICE

1 min • 1 pt

How is a general partnership organized?

MULTIPLE CHOICE

1 min • 1 pt

What is a major advantage of a business that is a partnership rather than a sole proprietorship?

10.

MULTIPLE CHOICE

2 mins • 1 pt

Joe is starting a small home-based consulting business. He possesses computer knowledge but lacks marketing skills. The form of business ownership that Joe might consider establishing is a(n)