ENT Final

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What is a sole proprietorship?

• A business owned by a corporation
• A business owned by one individual
• A business owned by multiple partners
• A business owned by shareholders

How many people own a sole proprietorship?

• 10 million individuals
• 15 million individuals
• 28.4 million individuals
• 50 million individuals

What percentage of businesses are sole proprietorships?

• 60%
• 70%
• 80%
• 90%

Who receives the profits from a sole proprietorship?

• The government
• The employees
• The sole proprietor
• The shareholders

Which is a pro of a sole proprietorship?

• Limited liability
• Owner receives all profits
• Easier to raise capital
• Increased government regulation

Which is a con of a sole proprietorship?

• Double taxation
• Owner may lack funds
• Complex to establish
• Limited workforce

How many people are involved in a partnership?

• Only one
• Two or more
• Exactly ten
• No more than twenty

What is a general partnership?

• A partnership with limited liability
• A partnership with silent partners
• A partnership where all partners share equal responsibility
• A partnership with no legal recognition

Which is a pro of a partnership?

• Increased tax burden
• Skills and abilities pooled
• Limited access to capital
• High government regulation