Fall 2024 Entrepreneurship Topic 2 Quiz

Fall 2024 Entrepreneurship Topic 2 Quiz

20 Qs

quiz-placeholder

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Fall 2024 Entrepreneurship Topic 2 Quiz

Fall 2024 Entrepreneurship Topic 2 Quiz

Assessment

Quiz

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Created by

Callie Sanders

Used 3+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

1. What are the four types of business ownership?
a. Sole Proprietorship, Partnership, LLC, Corporation
b. Sole Proprietorship, Franchise, Cooperative, Corporation
c. Partnership, LLC, S-Corporation, C-Corporation
d. Sole Proprietorship, Partnership, Cooperative, Franchise

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

2. What percentage of businesses are sole proprietorships?
a. 50%
b. 60%
c. 70%
d. 80%

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

3. In a sole proprietorship, who receives all the profits earned by the business?
a. The employees
b. The government
c. The investors
d. The sole proprietor

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

4. Which of the following is NOT a pro of a sole proprietorship?
a. Owner is the boss
b. Owner receives all profits
c. Owner has unlimited liability
d. Owner can act quickly in decision making

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

5. How many people are required to form a partnership?
a. One
b. At least two
c. Exactly three
d. At least four

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

6. Which of the following is NOT a type of partnership?
a. General Partnership
b. Limited Partnership
c. Silent Partnership
d. Exclusive Partnership

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

7. What is a benefit of a partnership compared to a sole proprietorship?
a. Less paperwork
b. Simpler tax filing
c. Increased sources of capital
d. Complete control over decisions

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