Business Concepts Quiz

Business Concepts Quiz

Professional Development

15 Qs

quiz-placeholder

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Business Concepts Quiz

Business Concepts Quiz

Assessment

Quiz

Business

Professional Development

Hard

Created by

shawn George

Used 1+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal of a business?

To provide goods and services

To generate profit

To create jobs

To innovate

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of business is owned and operated by a single individual?

Partnership

Corporation

Sole Proprietorship

Cooperative

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of partnership includes general partners and limited partners?

Sole Proprietorship

General Partnership

Limited Partnership

Corporation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key advantage of a Corporation?

Unlimited liability

Limited liability for owners

Simple tax structure

Direct control by owners

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does 'Market Share' refer to?

Total income generated by a business

Percentage of total sales controlled by a company

The relationship between supply and demand

The ownership value in a business

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a disadvantage of a Sole Proprietorship?

Unlimited liability

Shared profits

Complex regulations

Limited liability

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a Limited Partnership, who has management authority?

Limited partners

General partners

All partners

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