
Test: Business Organizations & Market Structures

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Laura Metzler
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33 questions
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1.
FLASHCARD QUESTION
Front
What is the most common form of business organization?
Back
The sole proprietorship.
2.
FLASHCARD QUESTION
Front
Which of the following is an advantage of a sole proprietorship? Options: Lack of permanence, Limited access to resources, Easy to discontinue, Unlimited liability
Back
Easy to discontinue
3.
FLASHCARD QUESTION
Front
Liability is the
Back
legal obligation to pay debts.
4.
FLASHCARD QUESTION
Front
A partnership is a business organization owned by
Back
two or more individuals.
5.
FLASHCARD QUESTION
Front
In a limited liability partnership, all partners
Back
are limited from personal liability in certain situations.
6.
FLASHCARD QUESTION
Front
Most large businesses are
Back
corporations.
7.
FLASHCARD QUESTION
Front
One of the ways a corporation can raise money is by: A. selling stock on the stock market., B. buying bonds from other corporations., C. seeking money from the government for research and development., D. selling shares to the founders.
Back
selling stock on the stock market.
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