Ent- Unit 5

Which of the following is a disadvantage of sole proprietorships?

• All decisions made by 1

• low startup costs

• no added federal taxes

• hard to raise money

Which of the following is an advantage of general partnerships?

• Each partner personally liable for debt

• disputes can arise between partners

• Losses share between partners

Which of the following is an advantage of a C-Corp

• Double taxation

• can't deduct losses on personal tax return

• must comply with corporate formalities

• stocks provide funding options

Which of the following is similar to a c-corp, but profits/losses are taxed to a personal return?

• S-Corp

• Co-Op

• Non Profit

• LLC

Protected from liability, easy startup, & no added federal taxes are all advantages of what type of business ownership?

• LLC

• Sole Proprietorship

• Limited Partnership

• Co-op

Which type of corporation is formed to benefit the public interest and serve the common good?

• Co-op

• Non profit

• LLC

• S-Corp

Which type of business ownership is a private organization that is owned and managed by individuals for their own benefit?

• Nonprofit

• Co-op

• LLC

• Partnership

Which of the following is a disadvantage of a franchise?

• large startup costs

• low failure rate

• business assistance

• Name recognition

Which of the following business ownership types can be described as purchasing the rights to use an established/successful business model with a proved track record?

• Co-op

• Franchise

• S-Corp

• LLC

SWOT stands for:

• Strengths, weaknesses, organization, testing

• Shareholders, weather, opportunities, threats

• Strengths, weaknesses, opportunities, threats

• Shareholders, weakness, organization, threats