Types of Businesses

Name the 4 Types of Business:

• franchise, corporation, partnership, sole proprietorship

• sole proprietorship, club, non-profit, franchise

• accounting, marketing, advertising, corporation

• Nike, State Farm, Hobby Lobby, Subway

Which is a reason to NOT start a business:

• To make a profit

• Make your own schedule

• Pursue your dreams

• To pay back loans

Which is NOT a function of a business?

• accounting

• employee benefits

• human resources

• marketing

Which is an example of a good?

• television repair

• pedicure

• shoes

• haircut

Walmart is an example of a:

• single owner

• partnership

• corporation

• non-profit

A father who wants to take his son into the business with him should form a......

• non-profit

• franchise

• corporation

• partnership

Someone who wants to control all aspects of the business should form this type of business.

• non-profit

• partnership

• sole proprietorship

• franchise

Which is an example of a service?

• furniture

• groceries

• dog grooming

• clothing

A disadvantage of a franchise would be....

• having to move

• not enough employees

• too much control

• limited control

What type of business does not exist to earn revenue but to help others or serve a need in a community?

• partnership

• corporation

• non-profit

• franchise