Business Organizations Quiz
Test your knowledge about different types of business organizations. Please answer all questions to the best of your ability.
Full Name
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First Name
Last Name
Email Address
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example@example.com
Which of the following is NOT a type of business organization?
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Sole Proprietorship
Partnership
Corporation
Syndicate
Select all characteristics of a corporation.
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Limited Liability
Unlimited Life
Owned by One Person
Separate Legal Entity
Match the business organization with its description.
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Rows
Sole Proprietorship
Partnership
Corporation
Description
Owned by a single individual
Owned by two or more people
Separate legal entity
Non-profit organization
Owned by a single individual
Owned by two or more people
Separate legal entity
Non-profit organization
Owned by a single individual
Owned by two or more people
Separate legal entity
Non-profit organization
Which of the following is true about partnerships?
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Partners have unlimited liability
Partnerships cannot have more than two owners
Profits must be equally divided
Partnerships are always non-profit
A non-profit organization is primarily focused on:
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Maximizing shareholder wealth
Serving a public or mutual benefit
Generating profit for owners
Operating internationally
Rate your confidence in your knowledge of business organizations.
1
2
3
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5
Which of the following are advantages of a sole proprietorship?
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Simple to establish
Owner has complete control
Limited liability
Easier to raise capital
Please provide an example of a business that is typically organized as a sole proprietorship.
In your own words, briefly explain what makes a corporation different from a partnership.
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