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Unit 2 Part 2 Review (2/24)

Unit 2 Part 2 Review (2/24)

Assessment

Flashcard

•

Business

•

9th - 12th Grade

•

Practice Problem

•

Hard

Created by

Wayground Content

FREE Resource

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38 questions

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1.

FLASHCARD QUESTION

Front

This type of business is owned by one person.

Back

Sole Proprietorship

2.

FLASHCARD QUESTION

Front

This type of business is owned by two or more people.

Back

Partnership

3.

FLASHCARD QUESTION

Front

This type of business is a contractual agreement with a parent company to sell its products/services in an area.

Back

Franchise

4.

FLASHCARD QUESTION

Front

McDonald's and Burger King are examples of....

Back

Franchises

5.

FLASHCARD QUESTION

Front

Advantages of this business type are that the owner is their own boss and gets to keep all the profits. Options: Partnership, Sole Proprietorship, Corporation, Franchise

Back

Sole Proprietorship

6.

FLASHCARD QUESTION

Front

Disadvantages for this type of business include: owner pays for everything, hard to get money to start from the bank, owner might lack skills & unlimited liability. Options: Sole Proprietorship, Partnership, Corporation, Franchise

Back

Sole Proprietorship

7.

FLASHCARD QUESTION

Front

Disadvantages of this business type include: needs a partnership agreement, partners might not get along, owners share profits, unlimited liability. What type of business is this?

Back

Partnership

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