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Test: Business Organizations & Market Structures
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34 Qs
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Test: Business Organizations & Market Structures
Quiz
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others
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Hard
Laura Metzler
FREE Resource
34 questions
Show all answers
1.
OPEN ENDED QUESTION
30 sec • Ungraded
Evaluate responses using AI:
OFF
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The most common form of business organization is
A. the corporation.
B. the sole proprietorship.
C. the general partnership.
D. the franchise.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an advantage of a sole proprietorship?
Lack of permanence
Limited access to resources
Easy to discontinue
Unlimited liability
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Liability is the
A. necessity to do a lot of paper work.
B. requirement to offer fringe benefits.
C. legal obligation to pay debts.
D. opportunity of the sole proprietor to keep all profits after taxes.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A partnership is a business organization owned by
A. one or more individuals.
B. two or more individuals.
C. individuals and stockholders.
D. one general partner and many stockholders.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a limited liability partnership, all partners
A. always have no liability.
B. have personal liability.
C. are required to be general partners.
D. are limited from personal liability in certain situations.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Most large businesses are
A. sole proprietorships.
B. general partnerships.
C. corporations.
D. cooperatives.
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