Business Organizations Quiz
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Questions and Answers

Which type of business is being referred to in the text?

  • Limited liability company
  • Partnership
  • Corporation
  • Sole proprietorship (correct)

    • What is the main characteristic of a sole trading concern?

  • Separate legal entity
  • Limited liability
  • Multiple owners
  • Single owner (correct)

    • Which of the following is NOT a common form of business organization?

  • Partnership
  • Sole proprietorship
  • Limited liability company (correct)
  • Corporation

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