Business Ownership and Liability Quiz

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10 Questions

What does having a business name not do?

Protect the owner from business debts

How is the taxation for businesses different from that of corporations?

Businesses are not subject to corporate tax rates

What do corporations provide for their owners/members that sole proprietors and partnerships do not?

Limited liability

What does the term 'business' often refer to colloquially?

A company

What can creditors do if a business acquires debts?

Go after the owner's personal possessions

What is a key aspect of stakeholder engagement in the context of corporate social responsibility (CSR)?

Involving people affected by decisions and those who can influence decision implementation

Why do mature organizations engage in stakeholder dialogue?

To develop understanding and agreement around solutions on complex issues and large projects

What is the underlying principle of stakeholder engagement?

Stakeholders have the chance to influence

What role does stakeholder engagement play in achieving the triple bottom line?

Key part of corporate social responsibility (CSR)

In stakeholder engagement, what do companies seek to find out through dialogue with stakeholders?

Social and environmental issues that matter most to stakeholders

Test your knowledge of business ownership and liability with this quiz. Explore the concept of business as an activity for profit and the legal implications of business names.

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