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Econ Unit 3 Review

Authored by Josh Crossland

Social Studies

9th - 12th Grade

Used 14+ times

Econ Unit 3 Review
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38 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most popular form of business ownership in the United States?

sole proprietorship

partnership

corporation

limited liability company

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is the biggest disadvantage of sole proprietorship?

pass through status

high government regulation

unlimited liability

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the least popular form of business ownership in the United States?

franchise

corporation

partnership

limited liability company

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a limited partnership, at least one partner:

has pass through tax status

registers as the "primary" partner

only contributes capital investment

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who owns a corporation?

corporate officers

the board of directors

stock holders

all are true

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Companies like Publix and Chick-Fil-A do not allow for shares of their stock to be purchased on stock exchanges. Therefore, companies such as these are known as:

Public Corporations

Private Corporations

"C" Corporations

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following "hybrid" models allows for the limited liability of a corporation but also the lower tax rates of a partnership?

joint venture

cooperative

franchise

limited liability company

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