Forms of Business Ownership
Quiz by Sarah Brubaker
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7 questions
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- Q1Which of the following is NOT a type of business ownership?LTDPartnershipCorporationSole proprietorship30s
- Q2Which of the following is a characteristic of a sole proprietorship?Unlimited liabilitySeparate legal entityLimited liabilityShares of stock30s
- Q3Which of the following is a characteristic of a partnership?Publicly traded sharesSingle ownerLimited liabilityShared decision-making30s
- Q4Which of the following is a characteristic of a corporation?Single ownerLimited liabilityUnlimited liabilityEasy to set up30s
- Q5What is the primary disadvantage of a sole proprietorship?Shared decision-makingLimited liabilityUnlimited liabilitySeparate legal entity30s
- Q6What is a characteristic of a limited liability company (LLC)?Separate legal entityShared decision-makingUnlimited liabilityLimited liability30s
- Q7Which type of business ownership is easiest to start?corporationpartnershipsole proprietorship30s