Unit 3 Review

Unit 3 Review

12th Grade

46 Qs

quiz-placeholder

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Unit 3 Review

Unit 3 Review

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Amber Soofi

Used 4+ times

FREE Resource

46 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business structure is easiest to establish?

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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