Brea, Robert, and Lincoln are college friends who want to start a business. Brea has creative ability, Robert's expertise is selling, and Lincoln's expertise is management. However, each has limited capital. Their ideal type of business ownership is a
Types of Business Ownerships

Quiz
•
Business
•
9th - 12th Grade
•
Hard
Tracie Crowley
Used 70+ times
FREE Resource
18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
merger
partnership
franchise
corporation
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
If all of the individuals who own a business share unlimited liability for the business's losses, these individuals are part of a (n)
private corporation
general partnership
"S" corporation
"C" corporation
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The Scott Company decided to sell stock to raise capital. Under what form of business ownership does the company operate?
corporation
cooperative
partnership
sole proprietorship
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of corporation may be owned by just a few people and does not offer its shares for sale to the general public?
limited
franchise
"C"
private
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A type of corporation that was developed to hep small businesses by taxing them as individuals in a partnership is a (n) corporation.
"S"
"C"
private
limited
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What type of corporation sells millions of shares and must provide complete information about its earnings, assets, and debts?
"C"
private
"S"
limited
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The American Red Cross is an example of a(n) corporation.
hybrid
nonprofit
"S"
"C"
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