1.02 Types Of Businesses Question Preview (ID: 25662)


What Are The Different Types Of Businesses And What Are Their Characteristics. TEACHERS: click here for quick copy question ID numbers.

Owned by one person
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

Owned by stockholders and treated by the law as its own entity
a) Franchise
b) Corporation
c) Partnership
d) Sole Proprietorship

Contractual agreement between the parent company and the business operator to sell a company's products or services in a specific geographic area
a) Corporation
b) Sole Proprietorship
c) Partnership
d) Franchise

Owned by two or more people
a) Franchise
b) Partnership
c) Sole Proprietorship
d) Corporation

The easiest type of business to start but has unlimited liability (can be sued for everything)
a) Partnership
b) Sole Proprietorship
c) Corporation
d) Franchise

Must share the profits and the risks equally
a) Sole Proprietorship
b) Corporation
c) Partnership
d) Franchise

Has limited liability (cannot be sued for everything), is taxed, and government monitors closely
a) Corporation
b) Franchise
c) Partnership
d) Sole Proprietorship

You have to follow strict rules on how to run the business
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

A law firms and medical practices are typically set up as this type of business
a) Partnership
b) Sole Proprietorship
c) Corporation
d) Franchise

Taco Bell and Blockbuster would be two examples of this type of business
a) Corporation
b) Partnership
c) Franchise
d) Sole Proprietorship

Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 25662 in the upper right hand corner or click here.

TEACHERS / EDUCATORS
Log In | Sign Up / Register

Help / Support / FAQ




Gaming Links