Types of Business Structures

What type of business is described as: A bakery owned and operated by one person?

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

What type of business is described as: A dental clinic run by two partners who share responsibilities and profits?

• Sole Proprietorship

• Partnership

• Corporation

• Cooperative

What type of business is described as: A tech company that sells stock to the public and pays corporate taxes?

• Sole Proprietorship

• Partnership

• Corporation

• Nonprofit Organization

What type of business is described as: A law firm where all partners are protected from each other's liabilities?

• Limited Liability Partnership (LLP)

• Sole Proprietorship

• Franchise

• Cooperative

What type of business is described as: A small retail store using a famous brand’s logo, layout, and systems?

• Franchise

• Corporation

• Partnership

• Nonprofit Organization

What type of business is described as: A company where investors can’t lose more than they put in, but one founder has full control?

• Limited Liability Company (LLC)

• Sole Proprietorship

• Cooperative

• Franchise

What type of business is described as: A grocery store owned and operated by members who benefit from using its services?

• Cooperative

• Corporation

• Franchise

• Partnership

What type of business is described as: A foundation offering free education programs and reinvesting all profits into its cause?

• Nonprofit Organization

• Corporation

• Partnership

• Franchise

What type of business is described as: A pizza shop run by one general partner and two investors who don’t make decisions?

• Limited Partnership

• Sole Proprietorship

• Cooperative

• Corporation

What type of business is described as: An online business that offers personal liability protection and flexible tax options?

• Limited Liability Company (LLC)

• Sole Proprietorship

• Partnership

• Cooperative