Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Business Structures And Business Plans Review QUIZ
Test Description: This Quiz will test your knowledge of Entrepreneurship concepts and vocabulary.
Instructions: Answer all questions to get your test result.
1) One advantage of a partnership is owners can combine their business skills to help the business succeed.
A
True
B
False
2) A Sole Proprietorship has to pay more money in taxes than a Corporation.
A
False
B
True
3) A Partnership is easier to raise money than a Sole Proprietorship.
A
True
B
False
4) If a business owner wants complete control over their business, they should start a corporation.
A
True
B
False
5) A business that is owned and managed by two or more individuals who receive all the profits and share responsibility for the losses.
A
Partnership
B
Entrepreneuership
C
Corporation
D
Sole Proprietorship
6) A Business Plan will include:
A
All answers are correct!
B
How much you will charge for your product!
C
Description of how your product works!
D
Where you will sell your product!
7) The main difference between a sole proprietorship and a partnership is a partnership has more than one owner.
A
True
B
False
8) A written document that describes an idea for a product or service and how it will make money!
A
Business Loan
B
Expense Report
C
Revenue Plan
D
Business Plan
9) A Partnership is easier to raise money than a Sole Proprietorship.
A
False
B
True
10) Sole Proprietorships are the most common type of business in the United States.
A
True
B
False
11) A Sole Proprietorship has to pay more money in taxes than a Corporation!
A
False
B
True
12) Corporations mostly have a limited life span!
A
False
B
True
13) A business that is owned and managed by one individual who receives all the profits, but is responsible for all the losses.
A
Sole Proprietorship
B
Partnership
C
Corporation
D
Entrepreneur
14) A business that is owned by stockholders and has rights and responsibilities as if it were a person.
A
Entrepreneuership
B
Sole Proprietorship
C
Partnership
D
Corporation
15) Virtually all businesses in the United States are large corporations.
A
True
B
False
16) The simplest form of business ownership is a:
A
Entrepreneurship
B
Sole Proprietership
C
Partnership
D
Corporation
17) An advantage of a corporation is that they have to pay corporate income taxes.
A
False
B
True
18) A sole proprietorship is a business where all of the following are true EXCEPT
A
pays lower taxes compared to a corporation
B
the owner is responsible for all losses
C
the owner can sell stock to raise money
D
the owner has complete control over all decisions
19) All of the following are characteristics of corporations EXCEPT
A
is managed by a board of directors
B
is very easy to start up and end the business
C
can raise money by selling stock
D
pays corporate income tax
20) All of the following are characteristics of partnerships EXCEPT
A
the business has an unlimited life span
B
is easier to raise money to start with multiple partners
C
partners have to split the profits
D
partners can divide the workload
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?