FUHRMS: Forms Of Businesses I Question Preview (ID: 20825)


FUHRMS: Identify The Form Of The Business Organization. TEACHERS: click here for quick copy question ID numbers.

Have the expertise of only the owner to call on.
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

Shared profits between owners and ownership shares NOT easily transferred.
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

Higher Taxes and start up costs.
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

Easy transfer of ownership.
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

Risk of conflict between owners.
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

The owner bears all of the risk of loss, or unlimited liability.
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

A business owned and managed by a single individual.
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

A business organization owned by two or more persons who agree on a specific division of responsibilities and profits.
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

The business has the promise of only one owner to use to try to secure money from investors or lenders.
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

A legal entity owned by individual stockholders.
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

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