Types of Business Ownership

To form my business, I used all of my savings and borrowed from the bank, and I'm personally liable for all of the debts. This statement is an example of which of the following forms of business ownership:

• Partnership

• Sole proprietorship

• Corporation

• Cooperative

John, Robert, and Charles were college friends who wanted to start a business. John has creative ability, Robert's expertise is selling, and Charles' expertise is management. However, each has limited capital. The ideal business ownership for these young men is a

• Merger

• Partnership

• Franchise

• Corporation

A business that is owned by two or more people who share the risk of loss and the chance for profit is known as a:

• partnership.

• sole proprietorship.

• franchise.

• corporation.

Name the business type.

Susan starts a jewelry-making business she calls "Susan's Treasures."

• sole proprietorship

• corporation

• partnership

Name the business type.

• sole proprietorship

• corporation

• partnership

Name the business type.

Ben and Jerry decided to go into the ice cream business together.

• corporation

• sole proprietorship

• partnership

Name the business type.

REI has thousand of stock owners who share ownership of the business.

• partnership

• corporation

• sole proprietorship

Name the business type.

"Helping Hands Childcare" is a local business owned by Nancy Williams.

• partnership

• corporation

• sole proprietorship

Name the business type.

John tutors Chemistry to local high school students.

• sole proprietorship

• corporation

• partnership

Name the business type.

Microsoft has two owners (Bill Gates and Paul Allen)

• partnership

• corporation

• sole proprietorship