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Types of Businesses

Quiz by Justin Wilcox

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10 questions
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  • Q1
    What is the name for a business owned and managed by a single individual?
    Sole Proprietorship

    Franchise

    General partnership

    Corporation

    30s
  • Q2
    A business in which two or more persons combine their assets and skills

    Sole proprietorship

    Partnership

    corporation

    franchise

    30s
  • Q3
    A business established or operated under an authorization to sell or distribute a company's goods or services in a particular area

    Employee owned business

    Partnership

    Franchise

    corporation

    30s
  • Q4
    A business owned by stockholders who share in its profits but are not personally responsible for its debts

    Franchise

    Corporation

    Non-profit organization

    Sole Proprietorship

    30s
  • Q5
    Cooperative ownership of the business by employees

    General Partnership

    Corporation

    employee owned business

    Non-Profit organization

    30s
  • Q6
    A business whose goal is to provide a service rather than to make a profit, such as the American Red Cross.
    non-profit organization

    Corporation

    Franchise

    Employee-owned business

    30s
  • Q7
    What is the term for the equal portions of a corporation's stock?

    Royalty fees

    Shares

    Partners

    Pieces

    30s
  • Q8
    Employee-Owned Business

    Allow people to keep most profits while paying royalty fees

    Give all profits to one person

    Gives all profits to the partnership

    Profits distributed amongst employees
    30s
  • Q9
    Sole Proprietorship

    Corporation

    Non-profit Organization

    Employee-Owned Business

    The easiest and least expensive form of business is ______
    30s
  • Q10
    Franchise

    This type of business is owned and controlled by all of its employees

    This type of business is given one sole person all of the profits and liability

    This type of business has to pay royalty fees

    This type of business splits profits between two or more people

    30s

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