Business Types

Business Types

3rd - 12th Grade

40 Qs

quiz-placeholder

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Business Types

Business Types

Assessment

Quiz

Business

3rd - 12th Grade

Practice Problem

Easy

Created by

Joan Barr

Used 10+ times

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40 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

What is a business owned and operated by one person?

Sole Trader

Partnership
Corporation

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

What is a business owned by stockholders/investors but operated by others?

Sole Trader

Partnership

Private or Public Limited Company

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

What is a business owned and operated by two or more people?

Sole Trader

Partnership
Corporation

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

What is ONE advantage of a sole trader?

You make ALL the decisions
Easy to raise money
You have to share profits

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Which is ONE disadvantage of Sole Trader?

Less direct control
Disagreements
Hard to raise money

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

What is ONE advantage of a Partnership?

Someone else can help with decisions, etc.
Double taxes
Disagreements

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

What is ONE disadvantage of a Partnership?

Easier to start
Have to share the profits
Help in making decisions

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