Which type of business structure is easiest to establish?
Unit 3 Review

Quiz
•
Social Studies
•
12th Grade
•
Medium

Amber Soofi
Used 4+ times
FREE Resource
46 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
B-Corp
Sole proprietorship
C-Corp
LLC
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of starting a sole proprietorship?
You are personally liable
You’re subject to more government regulations
It’s harder to start up
You have to pay more taxes
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business is the most profitable, and why?
A. Corporations - because they can raise large amounts of capital and scale more effectively.
A. Partnerships - because they share costs and responsibilities among partners.
A. Sole proprietorships - because they are owned by one person who keeps all the profits.
A. Sole proprietorships - because they have lower tax rates than other business types.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a non-profit organization?
A member-owned business organization for mutual benefit.
A business model where an individual operates a business under the name and system of a larger company.
An entity that operates for purposes other than making a profit.
A payment made by one party to another for the right to use an asset.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of a corporation?
No taxes
Lower taxes
Must pay personal income tax AND business income tax
Only business income tax
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A group of individuals forming a company for everyone’s benefit
A business that seeks to make a profit
A sole proprietorship
A partnership
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a nonprofit organization?
A business that does not seek to make a profit
A partnership
A sole proprietorship
A business that seeks to make a profit
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