Business organizations
Test Your Knowledge on Business Organizations
Explore the essentials of business organization structures through our engaging quiz! Whether you're a student, a professional, or just curious, this quiz offers an opportunity to enhance your understanding of different business entities.
- 10 thought-provoking questions
- Multiple choice format for easy answering
- Learn about sole proprietorships, partnerships, and more!
An Incorporated business owned by one person is..
General partnership
Joint venture
Sole proprietorship
Limited partnershi
All partners are general partners in case of..
General partnership
Limited partnership
Joint venture
Advantage of sole proprietorship is..
Low cost of organization
No diversity in management
All partners have equal right
Business continuity
In case of limited partnerships..
All are limited partners
All are general partners
There is at least 1 limited and 1 general partner
It depends on the country
Which is general partners' main responsibility?
Financing business
Prticiphating in the management of partnership
Consulting the business executives
Requesting or attending a meeting of partners
One person may be both a general and a limited partner in the same partnership, is it true?
Yes
No
What are advantages of Limited Partnerships?
Lack of business continuity
Unlimited liability
It is financed by one person
Income tax benefits
Who is liable for debts in case of limited partnerships?
Limited partner
General partner
Both
None of them
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