Business Ownership: Question Preview (ID: 9170)


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What is the name of the business ownership that has 1 owner?
a) Partnership b) Sole Proprietorship c) Cooperative d) Corporation
Who are the owners of cooperatives?
a) Employers or users of company's products/services b) Shareholders c) Partners d) Employees or users of the company's products/services
What are the names given to the owners of corporations?
a) Shareholders or Stockholders b) Partners c) Franchiser d) Money Bags
In which type of business ownership are there 2 or more owners?
a) Partnership b) Sole Proprietorship c) Corporation d) Franchise
This biz is time-consuming, expensive to start-up, those with few shares have little say.
a) Cooperative b) Franchise c) Corporation d) Partnership
Who is the “franchisee”?
a) The original owner of a franchise b) The owners of a partnership c) The owner of a sole proprietorship d) The dealers of a franchise
What does unlimited liability mean to an owner of a business?
a) The owner can lose their business, home & personal belongings b) The owner can only lose the money invested into the business c) The owner has no responsibility to pay the debts of the business d) The owner has serious problems
What must a franchisee pay each month?
a) Monthly fee to the cooperative b) Monthly fee to the corporation c) Monthly fee to the franchiser d) Monthly fee to the franchisee
What does limited liability mean to an owner of a business?
a) The owner can lose their business, home & personal belongings b) The owner can only lose the money invested into the business c) The owner has no responsibility to pay the debts of the business d) The owner is very lucky
How are franchises different from all other types of business ownerships?
a) The owners are employees or users of products/services b) Permission must be given to sell its products/services c) A partnership agreement is needed d) The owner performs all the duties in the business
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