
6-2 Partnerships
Authored by Tonya Brooks
Business
10th Grade
Used 1+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a partnership in business?
A non-profit organization
A corporation with multiple shareholders
A business owned by one person
A business structure where two or more entities share ownership
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an advantage of a partnership?
Unlimited liability for all partners
Sharing the costs of starting and running a business
No need for a partnership agreement
No sharing of profits
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of adding partners?
Increased personal liability
Sharing profits and control
Increased decision-making power
Reduced workload
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does a partnership compare to a sole proprietorship?
Partnerships require more government forms
Partnerships have more owners sharing profits and liabilities
Partnerships file a separate tax return
Partnerships have limited liability
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is included in a partnership agreement?
A list of all business clients
The business's annual revenue
Capital contributions, responsibilities, and decision-making process
Only the names of the partners
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are capital contributions in a partnership?
The amount of money and resources each partner contributes
The liabilities each partner assumes
The taxes each partner pays
The profits each partner receives
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a general partnership?
A partnership that is publicly traded
A partnership with only one partner
A partnership where each partner has unlimited liability
A partnership where partners have limited liability
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