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Questions and Answers
What is the key advantage of sole proprietorships?
What is the key advantage of sole proprietorships?
- Shared profits (correct)
- Distinction as a legal entity
- Ownership by multiple partners
- Limited liability
Which type of partnership provides partners with limited liability?
Which type of partnership provides partners with limited liability?
- Public partnership
- Limited partnership (correct)
- General partnership
- Sole partnership
What distinguishes a corporation from other forms of business ownership?
What distinguishes a corporation from other forms of business ownership?
- Owned by a single individual
- Unlimited liability for owners
- Operated by two or more partners
- Legal distinction as a separate entity (correct)
What type of corporation is Apple considered?
What type of corporation is Apple considered?
In a general partnership, what is the extent of partners' liability?
In a general partnership, what is the extent of partners' liability?
What is the primary interest of co-operatives in terms of ownership?
What is the primary interest of co-operatives in terms of ownership?
What is the formula to calculate profit in a business?
What is the formula to calculate profit in a business?
Which economic resource refers to the people who create goods and services?
Which economic resource refers to the people who create goods and services?
What type of resource refers to materials that come from the earth, water, and air?
What type of resource refers to materials that come from the earth, water, and air?
Why do many people become entrepreneurs according to the text?
Why do many people become entrepreneurs according to the text?
Which term best describes products or technologies that are no longer used or produced?
Which term best describes products or technologies that are no longer used or produced?
What differentiates a need from a want?
What differentiates a need from a want?
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