Business Structures Quiz
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Questions and Answers

What is one characteristic of a Sole Proprietorship?

  • It is easy to raise capital.
  • It allows for shared control.
  • It has a formal structure.
  • It has unlimited liability. (correct)

    • Which factor is NOT considered in establishing a new business?

  • Financial planning.
  • Personal hobbies of the owner. (correct)
  • Target market analysis.
  • Legal requirements.

    • Which of the following is a demerit of a Partnership?

  • Lack of continuity.
  • Limited capital raising ability.
  • Possibility of disputes among partners. (correct)
  • Shared decision-making.

    • What distinguishes an Industry from a Firm?

    <p>A Firm is a legal entity that conducts business.</p> Signup and view all the answers

    Which of the following best describes a Joint Stock Company?

    <p>Shares are publicly traded.</p> Signup and view all the answers

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