Sole Proprietorships, Partnerships, And Corporations

6 Questions | Total Attempts: 1309

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Sole Proprietorships, Partnerships, And Corporations - Quiz

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Questions and Answers
  • 1. 
    What is the most common form of ownership in the United States?
    • A. 

      Sole Proprietorship

    • B. 

      Partnership

    • C. 

      Corporation

    • D. 

      Aflac

  • 2. 
    What is one advantage of a sole proprietorship?
    • A. 

      Limited Size

    • B. 

      Unlimited Liability

    • C. 

      Limited Life

    • D. 

      Secrecy

  • 3. 
    What percent of businesses in the United States are partnerships?
    • A. 

      10%

    • B. 

      40%

    • C. 

      65%

    • D. 

      100%

  • 4. 
    What is a disadvantage of a partnership?
    • A. 

      Lack of success

    • B. 

      Limited Liability

    • C. 

      Unlimited Liability

    • D. 

      Birth Defect

  • 5. 
    What is an advantage of a corporation?
    • A. 

      Making money

    • B. 

      Indefinite Life

    • C. 

      Indecent Life

    • D. 

      Government Restrictions

  • 6. 
    Which business tends to generate the most revenues?
    • A. 

      Corporations

    • B. 

      Sole Proprietorships

    • C. 

      Partnerships

    • D. 

      Lowe Dining Hall