Entrepreneurship and Sole Proprietorship Quiz
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Questions and Answers

Which form of business organization has only one owner and is not a separate legal entity?

  • Corporation
  • Partnership
  • Entrepreneurship
  • Sole Proprietorship (correct)

    • What is an advantage of a sole proprietorship?

  • Access to capital is unlimited
  • The owner has limited liability
  • The owner does not have to make management decisions
  • The owner can easily transfer or sell the business (correct)

    • What is a disadvantage of a sole proprietorship?

  • The owner has limited liability
  • The owner cannot transfer or sell the business
  • Access to capital is limited (correct)
  • The owner does not have to make management decisions

    • Who has the right to make all management decisions in a sole proprietorship?

    <p>The owner</p> Signup and view all the answers

    What is the simplest form of business organization?

    <p>Sole Proprietorship</p> Signup and view all the answers

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