Business Organization

Business Organization

9th - 12th Grade

10 Qs

quiz-placeholder

Similar activities

Business Organizations

Business Organizations

12th Grade

12 Qs

ACCOUNTING

ACCOUNTING

8th - 12th Grade

15 Qs

BUSINESS STRUCTURES

BUSINESS STRUCTURES

12th Grade

11 Qs

ORG AND MGMT REVIEW

ORG AND MGMT REVIEW

11th Grade

13 Qs

Bus 100: Business Formation

Bus 100: Business Formation

10th Grade

10 Qs

W8 11-ABM Org and Mng't

W8 11-ABM Org and Mng't

12th Grade

12 Qs

Own it Your Way Part A Test Review

Own it Your Way Part A Test Review

10th Grade

12 Qs

Nature and Form of Business Organization

Nature and Form of Business Organization

11th Grade

10 Qs

Business Organization

Business Organization

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

Travisray Salyers

Used 205+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

How many owners does a Sole Proprietorship have?

2

2-3

1

Many

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following statements about a Sole Proprietorship is incorrect?

Totally responsible for all debts and liabilities

Get to keep all the profits

Purpose is something other than making a profit

Income is taxes as a personal income

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

In a partnership, how many owners are there?

1

No Owners

Has many shareholders

2 or more owners

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following statements about a Partnership is incorrect?

Owners share the profits and have a legal agreement

You don't only take on your own debt, but your fellow business owner's debt

Income is taxed as a personal income

You can discontinue anytime you want

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Why would someone set-up their business as a LLC?

They double their profits

Don't get taxed

Protects their personal assets from the business's debt

It's easier to start up because many owners are involved and bring in lots of money

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What does LLC stand for?

Liability Left Company

Limited Liability Company

Unlimited Liability Company

It doesn't mean anything

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is the purpose of a Non-profit business structure?

To gain as much profit as possible

Taxed like a corporation

To not make money

A cause that is something other than making a profit

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?