Types of Businesses
Quiz by Justin Wilcox
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- Q1What is the name for a business owned and managed by a single individual?Sole Proprietorship
Franchise
General partnership
Corporation
30s - Q2A business in which two or more persons combine their assets and skills
Sole proprietorship
Partnershipcorporation
franchise
30s - Q3A 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
Franchisecorporation
30s - Q4A business owned by stockholders who share in its profits but are not personally responsible for its debts
Franchise
CorporationNon-profit organization
Sole Proprietorship
30s - Q5Cooperative ownership of the business by employees
General Partnership
Corporation
employee owned businessNon-Profit organization
30s - Q6A 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 - Q7What is the term for the equal portions of a corporation's stock?
Royalty fees
SharesPartners
Pieces
30s - Q8Employee-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 employees30s - Q9Sole Proprietorship
Corporation
Non-profit Organization
Employee-Owned Business
The easiest and least expensive form of business is ______30s - Q10Franchise
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 feesThis type of business splits profits between two or more people
30s