Business Structure

Quiz
•
English
•
12th Grade
•
Hard
Sarah Williams
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A business formed by two or more people to carry on a business together, with shared capital investment and, usually, shared responsibilities.
Sole trader
Partnership
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A business in which one person provides the permanent finance and, in return, has full control of the business and is able to keep all of the profits.
Sole trader
Partnership
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
It comprises businesses owned and controlled by individuals or groups of individuals.
Public sector
Private sector
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The only liability – or potential loss – a shareholder has if the company fails is the amount invested in the company, not the total wealth of the shareholder.
Private limited company
Limited liability
Public limited company
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is NOT a characteristic of a partnership?
Direct control over business operations
Public trading of shares
Shared ownership among multiple individuals
Close-knit relationship among partners
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Another term for an individual owner who determines policies and has the last say in decision making is a:
business partner
sole proprietor
stockholder
manager
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What type of business structure is a law firm typically?
Partnership
Non-profit organization
Sole proprietorship
Corporation
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