Business Ownership Quiz Quiz

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Which business structure has the advantage of easy tax preparation?

Sole Proprietorship

Which business structure has the disadvantage of limited financial resources?

Sole Proprietorship

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

Corporation

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

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

What is a disadvantage of incorporating as a corporation?

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

What is an advantage of franchising?

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

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

<p>Partnership</p> Signup and view all the answers

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

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

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

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

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

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

What is a disadvantage of franchising?

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

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

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

What is an advantage of franchising?

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

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

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

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