What should your choice of business ownership depend on?
Types of Business Ownership

Flashcard
•
Social Studies
•
12th Grade
•
Hard
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30 questions
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1.
FLASHCARD QUESTION
Front
Back
Your needs and goals
2.
FLASHCARD QUESTION
Front
Which form of business ownership involves multiple individuals sharing responsibilities?
Back
Partnership
3.
FLASHCARD QUESTION
Front
Which form of business ownership is typically characterized by a single individual owning the business?
Back
Sole proprietorship
4.
FLASHCARD QUESTION
Front
Which form of business ownership is often associated with limited liability for its owners? Options: Sole proprietorship, Partnership, Corporation, Cooperative
Back
Corporation
5.
FLASHCARD QUESTION
Front
What is one advantage of a sole proprietorship regarding government intervention?
Back
Minimal government intervention unless certification or permits are needed.
6.
FLASHCARD QUESTION
Front
What is a cost-related advantage of starting a sole proprietorship?
Back
It is easy and inexpensive to create.
7.
FLASHCARD QUESTION
Front
What is a decision-making advantage of a sole proprietorship?
Back
Decisions are made quickly without checking with others.
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