Types Of Business Ownership! Trivia Quiz
9 Questions
| Total Attempts: 684
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Questions and Answers
- 1.An LLC (limited liability company) is a hybrid of two types of business ownerships below.
- A.
Partnership
- B.
Franchise
- C.
Sole Proprietorship
- D.
Corporation
- E.
Cooperative
- 2.Which type of ownership below has limited liability for its owners?
- A.
Sole Proprietorship
- B.
Corporation
- C.
Partnership
- 3.Which of the following is NOT a characteristic of a sole proprietorship?
- A.
Unlimited liability
- B.
You are the boss!
- C.
You keep most of the profits
- D.
Business does not end when the owner dies
- 4.Hawaiian Humane Society provides services for animals.
- A.
At a high profit margin
- B.
For no proft
- 5.Which of the following are NOT franchises?
- A.
Taco Bell
- B.
Nike
- C.
McDonalds
- D.
Subway
- 6.Which of the following is an example of a cooperative discussed in class?
- A.
Florida apple farmers
- B.
Florida cranberry farmers
- C.
Florida orange farmers
- 7.Which items fit the description of a partnership type of business ownership?
- A.
More money
- B.
Limited liability
- C.
More Skills
- D.
Possibility of arguments
- 8.In a corporation....
- A.
The company does not die when the owner dies
- B.
The company shuts down when the owner dies
- 9.Which items are cons to having a corporation?
- A.
Double taxation
- B.
Creating capital through stocks
- C.
Government regulation
- D.
Limited liability
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