types of businesses

Front

What is a Sole Proprietorship?

Back

A business that is owned by one individual.

Front

What percentage of the profits in sole proprietorship is the owner designated to?

Back

100%

Front

Which of the following is an advantage of sole proprietorship? Owner has complete control, Owner gets all the stress, Cannot raise capital, All the above

Back

Owner has complete control

Front

Partnership requires at least three people

Back

False

Front

In partnership, decisions require agreement

Back

True

Front

Business owned by shareholders is

Back

Corporation

Front

A group of people who jointly oversee the activities of a corporation

Back

Board of Directors

Front

Franchisors usually provide all of the listed items except.... Advertising, Training, Loan, Equipment

Back

Loan

Front

What do we call a person who is willing to take the risks of starting a business in order to make a profit?

Back

Entrepreneur

Front

Which is NOT a basic type of business ownership? Options: proprietorship, partnership, corporation, retail

Back

retail