BUSINESS BUZZZZ

Sara’s Hair Palace is a small, locally owned beauty salon in Sterling. This represents what type of business?

• corporation

• partnership

• sole proprietorship

Susie is starting her own lemonade store. What economic term would best describe Susie and what does that term mean?

• Consumer

• Partner

• sole proprietor

Dan has $5,000. He wants to invest his money in the type of business that has the least amount of liability. In which type of business should he invest?

• company

• partnership

• proprietorship

A business partnership has ___________ who share the risks and the profits.

• One owner
• No more than three owners
• Two or more owners
• Five or more owners

Which of the following is an advantage of sole proprietorships:

• Limited liability
• Unlimited financial power
• Dual taxation
• Quick decision making

Which of the following is a disadvantage of sole proprietorships:

• Limited capital
• Control 
• Privacy
• Tax liability

This type of business is owned by many people called shareholders.

• Sole Proprietorship

• Partnership

• joint stock company

• HUF

Nike, Google and Apple are examples of.....

• Sole Proprietorships
• Partnerships
• Corporations
• Franchises

Advantages of this business type are that the owner is their own boss and gets to keep all the profits.

• Partnership
• Sole Proprietorship
• Corporation
• Franchise

what is business ?

• It is a transaction

• It is a profit

• it is a organisation

• it is a transaction of trade for profit making