Quizalize logo
placeholder image to represent content

EPF Chapter 3 Types of Businesses

Quiz by Pa'Trice Day Owens

Feel free to use or edit a copy

includes Teacher and Student dashboards

Measure skills
from any curriculum

Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.

With a free account, teachers can
  • edit the questions
  • save a copy for later
  • start a class game
  • automatically assign follow-up activities based on students’ scores
  • assign as homework
  • share a link with colleagues
  • print as a bubble sheet

Our brand new solo games combine with your quiz, on the same screen

Correct quiz answers unlock more play!

New Quizalize solo game modes
30 questions
Show answers
  • Q1
    A market situation in which a few large businesses provide products for many consumers is known as ________________________________
    a monopoly
    perfect competition
    nonprice competition
    an oligopoly
    60s
  • Q2
    A disadvantage of organizing a business as a sole proprietorship is _______________________________
    limited control
    shared profits
    limited capital
    limited liability
    60s
  • Q3
    A business that is owned and operated by its members is a ______________________________
    wholesale club
    corporation
    franchise
    cooperative
    60s
  • Q4
    Which term refers to a person whose liability, if a business fails, is the amount of money he/she invested?
    agent
    limited partner
    sole proprietor
    general partner
    60s
  • Q5
    An advantage of organizing a business as a partnership is ___________________________
    more skills and knowledge
    unlimited life
    you can sell stocks to raise capital
    limited liability
    60s
  • Q6
    Which term refers to an application to operate as a corporation?
    corporate bylaws
    a corporation charter
    DBA Doing Business As
    articles of incorporation
    60s
  • Q7
    The legal owners of a corporation are the________________
    stock holders
    board of directors
    corporate officers
    partners
    60s
  • Q8
    Many small and family owned businesses operate as ___________
    LLC Limited Liability
    franchise
    private corporations
    public corporations
    60s
  • Q9
    If a corporation goes out of business owing millions of dollars to its creditors, its stockholders
    lose the money they invested
    declare bankruptcy
    split the debt payments equally
    forfeit their personal assets
    60s
  • Q10
    A disadvantage of organizing a business as a corporation is ______________
    continue life
    double taxation
    snap decision making
    lack of capital
    60s
  • Q11
    A disadvantage of a sole proprietorship is unlimited liability for business debts.
    False
    True
    60s
  • Q12
    A general partner has no decision authority
    False
    True
    60s
  • Q13
    Price competition means buyers will choose the lowest priced products available.
    True
    False
    60s
  • Q14
    A limited liability company is a business that operates and pays taxes as a partnership
    False
    True
    60s
  • Q15
    A parent corporation is a company that sells franchises
    True
    False
    60s

Teachers give this quiz to your class