Business Ownership Quiz Quiz
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Questions and Answers

Which business structure has the advantage of easy tax preparation?

  • Limited Liability Company
  • Partnership
  • Corporation
  • Sole Proprietorship (correct)

    • Which business structure has the disadvantage of limited financial resources?

  • Limited Liability Company
  • Partnership
  • Sole Proprietorship (correct)
  • Corporation

    • Which business structure has the advantage of limited liability for its owners?

  • Corporation (correct)
  • Limited Liability Company
  • Partnership
  • Sole Proprietorship

    • Which of the following is an advantage of incorporating as a corporation?

    <p>Ability to raise capital through selling stock (C)</p> Signup and view all the answers

    What is a disadvantage of incorporating as a corporation?

    <p>Complexity and expense (A)</p> Signup and view all the answers

    What is an advantage of franchising?

    <p>Higher success rates compared to standalone startups (C)</p> Signup and view all the answers

    Which business structure has the advantage of pooling knowledge and skills for better decision-making?

    <p>Partnership (B)</p> Signup and view all the answers

    Which business structure has the disadvantage of unlimited liability for its owners?

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

    Which of the following is an advantage of incorporating as a corporation?

    <p>Ability to raise capital (A)</p> Signup and view all the answers

    Which one of these is a disadvantage of incorporating as a corporation?

    <p>Double taxation (D)</p> Signup and view all the answers

    What is a disadvantage of franchising?

    <p>Lack of control (B)</p> Signup and view all the answers

    Which one of these is an advantage of incorporating as a corporation?

    <p>Business continuity (C)</p> Signup and view all the answers

    What is an advantage of franchising?

    <p>Training and support (B)</p> Signup and view all the answers

    Which one of these is a disadvantage of incorporating as a corporation?

    <p>More regulation (D)</p> Signup and view all the answers

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