3.1 Business Organization Quiz

3.1 Business Organization Quiz

12th Grade

31 Qs

quiz-placeholder

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3.1 Business Organization Quiz

3.1 Business Organization Quiz

Assessment

Quiz

Social Studies

12th Grade

Hard

Created by

Leonel Roman Avalos

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31 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most common form of business organization?

Corporation

Partnership

Sole proprietorship

Cooperative

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the U.S., most businesses today are related to which sector?

Manufacturing

Agriculture

Service

Mining

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a sole proprietorship?

A business owned by multiple partners

A business owned and managed by a single individual

A business owned by shareholders

A business owned by the government

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three categories of partnerships mentioned in the document?

General Partnership, Limited Partnership, Limited Liability Partnership

Sole Proprietorship, Corporation, Franchise

Joint Venture, Cooperative, Nonprofit

Partnership, Corporation, Sole Proprietorship

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a general partnership, how do partners share responsibility and liability?

Equally

Unequally

Based on investment

Not shared

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key characteristic of a limited partnership?

Only one partner is required to be a general partner

All partners have unlimited liability

No partners have liability

All partners are general partners

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What distinguishes a limited liability partnership from other types of partnerships?

All partners are limited partners

Only one partner has liability

Partners do not share profits

It is the oldest form of partnership

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