Business Ownership and Types Quiz

Business Ownership and Types Quiz

12th Grade

10 Qs

quiz-placeholder

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Business Ownership and Types Quiz

Business Ownership and Types Quiz

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Rosemarie Rellona Womack

Used 9+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of business ownership?

The act of managing a business entity

Legal and financial responsibility of individuals or groups for a business entity.

The process of starting a business

The ownership of physical assets in a business

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a type of business ownership?

Sole proprietorship

Partnership

Limited liability company

Marketing strategy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business ownership has unlimited liability?

Sole proprietorship

Corporation

Partnership

Limited liability company

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business ownership has the advantage of easy decision-making?

Corporation

Sole proprietorship

Partnership

Limited liability company

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business ownership has the advantage of shared responsibilities and resources?

Sole proprietorship

Limited liability company

Corporation

Partnership

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business ownership has the advantage of limited liability?

Limited liability company

Corporation

Sole proprietorship

Partnership

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business ownership is a separate legal entity?

Sole proprietorship

Corporation

Partnership

Limited liability company

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