Types of Organizations and Business Structures Quiz
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Questions and Answers

What is a characteristic of a partnership?

  • Single owner with full control
  • Unlimited liability for all partners (correct)
  • Ownership by multiple shareholders
  • Limited liability for all partners

    • Which of the following is a common type of organization?

  • Sole proprietorship (correct)
  • Syndicate
  • Monopoly
  • Cartel

    • Which type of organization is characterized by the separation of ownership and control?

  • Limited liability company
  • Corporation (correct)
  • Sole proprietorship
  • Partnership

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