Forms of Business Organization Quiz
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Questions and Answers

What is the main characteristic of a sole proprietorship?

  • Shared control
  • Public ownership
  • Single ownership (correct)
  • Limited liability

    • What type of risk bearing is associated with sole proprietorship?

  • Individual risk bearing (correct)
  • Shared risk bearing
  • No risk bearing
  • Limited risk bearing

    • What is a key disadvantage of a sole proprietorship?

  • Limited liability
  • Large size
  • Lack of business continuity (correct)
  • Separate legal entity

    • Which factor contributes to the ease of starting and dissolving a sole proprietorship?

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    What type of entity is a sole proprietorship in terms of legal status?

    <p>No separate legal entity</p> Signup and view all the answers

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