Business Ownership Quiz for BBI20

What is business ownership?

• The CSR (Corporate Social Responsibilty) of a business.

• The process of starting a business.

• Legal control of a business.

• The marketing and advertising of a business.

The forms of business ownership we learned about are:

• Depreciation, amortization, and corporate profitability.

• Joint stock company, property ship, ethics, and marketing.

• Private sector, public sector, privatization, and GDP.

• Cooperative, corporation, sole proprietorship, and partnership.

The two types of partnerships are:

• General and limited.

• Conglomerate and synergy.

• Competent and productive.

• Unlimited and general.

Define sole proprietorship:

• A business owned by one person, referred to as a “proprietor”.

• A business owned by one thousand people, referred to as "people".

• A business owned by one mushroom, referred to as a "property manager".

• A business man named "Proprietor" sold his company stock.

What is an advantage of a cooperative business?

• Decision-making process could be difficult.

• Less expensive goods/services.

• Access to government grants and funding.

• MEC.

What is a disadvantage of a franchise?

• Less expensive cost of products.

• Brand recognition.

• Cheap to purchase.

• Expensive to purchase.

What is a crown corporation?

• A crown corporation is a government-owned corporation.

• A crown corporation is a sole-owned corporation.

• A crown corporation is a non-profit charity.

• A crown corporation is where the hierarchy connects with Maslow.

Unlimited liability is when the business owner(s) are personally responsible for all debts of a business.

• True

• False

Google is a franchise.

• False

• True

A corporation doesn't exist separately from shareholders.

• True

• False