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Entrepreneurial Business Types Quiz for Class IX Students

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Entrepreneurial Business Types Quiz for Class IX Students

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Questions and Answers

What is a sole proprietorship?

A legal entity separate from its owners

A business owned by two or more individuals

An entity formed for a charitable or social purpose

A business owned and operated by a single person (correct)

What is a partnership in business?

An entity formed for a charitable or social purpose

A business owned and operated by a single person

A legal entity separate from its owners

A business owned by two or more individuals who share responsibilities, profits, and losses (correct)

What is a corporation in business?

A legal entity separate from its owners (shareholders) (correct)

A business owned by two or more individuals

A business owned and operated by a single person

An entity formed for a charitable or social purpose

What is a nonprofit organization?

An entity formed for a charitable, educational, or social purpose (C) Signup and view all the answers

Which type of business offers limited liability protection to its owners?

Corporation (A) Signup and view all the answers

True or false: A sole proprietorship is a business owned and operated by multiple individuals?

False (B) Signup and view all the answers

True or false: A partnership is a business owned by two or more individuals who share responsibilities, profits, and losses?

True (A) Signup and view all the answers

True or false: A corporation is a legal entity that does not offer limited liability protection to its owners?

False (B) Signup and view all the answers

True or false: Nonprofit organizations aim to make a profit and do not rely on donations?

False (B) Signup and view all the answers

True or false: Nonprofit organizations are formed for charitable, educational, or social purposes?

True (A) Signup and view all the answers

Entrepreneurial Business Types Quiz for Class IX Students

Choose a study mode

Podcast

Questions and Answers

What is a sole proprietorship?

What is a partnership in business?

What is a corporation in business?

What is a nonprofit organization?

Which type of business offers limited liability protection to its owners?

True or false: A sole proprietorship is a business owned and operated by multiple individuals?

True or false: A partnership is a business owned by two or more individuals who share responsibilities, profits, and losses?

True or false: A corporation is a legal entity that does not offer limited liability protection to its owners?

True or false: Nonprofit organizations aim to make a profit and do not rely on donations?

True or false: Nonprofit organizations are formed for charitable, educational, or social purposes?

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