Business Ownerships Question Preview (ID: 12953)


Distinguish Between The 4 Types Of Business Ownerships: Sole Proprietorship, Partnership, Corporation, And Franchise. TEACHERS: click here for quick copy question ID numbers.

This business entity is owned by one person
a) Sole proprietor
b) Partnership
c) Corporation
d) Franchise

DisAdvantages of this business entity: share the profit, possible disagreements, contract needed, share unlimited liability
a) Sole proprietor
b) Partnership
c) Corporation
d) Franchise

This business entity is owned by many people----shareholders/stockholders
a) Sole proprietorship
b) Partnership
c) Corporation
d) Franchise

Which ownership? Examples: Dentist and doctor's offices, real estate brokers, lawyers.
a) Sole Proprietor
b) Partnership
c) Corporation
d) Franchise

Which ownership? Examples: Mcdonalds, Ford, Apple, Footlocker
a) Sole Proprietor
b) Partnership
c) Corporation
d) Franchise

Which ownership? Examples: Taco Bell, Blockbuster, Applebees
a) Sole proprietor
b) Partnership
c) Corporation
d) Franchise

This business entity is an agreement to sell a company's products and services
a) Sole proprietor
b) Partnership
c) Corporation
d) Franchise

Advantages of this business entity: easy to start, you're your own boss, owner keeps all profits
a) Sole proprietor
b) Partnership
c) Corporation
d) Franchise

Advantages of this business entity: Get $$ by selling stock, limited liability
a) Sole proprietor
b) Partnership
c) Corporation
d) Franchise

Advantages of this business entity: easy to start, can rely on good company's reputation, company will help you
a) Sole proprietor
b) Partnership
c) Corporation
d) Franchise

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