Business Ownership & Entrepreneurship

A partnership needs to have a _______________ as a legal document.

Which of the following is NOT a benefit of being a sole proprietor?

What is the top reason than an entrepreneur may fail?

An independent legal entity owned by shareholders. 

There are 3 major types of business ownership: Sole Proprietorship, Partnerships, and ______.

In this form of ownership, shareholders elect directors to make decisions

Corporations have access to capital and increased liquidity

This type of business is owned by one person:

A sole proprietorship only lasts as long as

Typically a farm, a photography business, and home based businesses are examples of: 

A partnership needs to have a _______________ as a legal document.

All partnerships are constructed the same and profits are split 50/50.

A partnership ends through all of the following EXCEPT:

Every time a partner leaves or enters, a new partnership agreement must be created.

Being an entrepreneur allows you to work less hours and have low levels of stress.

The most effective form of business organization for raising capital is the:

The easiest business ownership type to set up and maintain is

The relationship existing between two or more persons who join to carry on a trade or business.

All of the following are advantages of corporations EXCEPT:

An example of an opportunity that an entrepreneur may have is:

Unproductive partners and unlimited liability are both advantages to partnerships

All of the following should be included in the partnership agreement except:

One advantage of a partnership is _____________.

Which of the following is an advantage of being an entrepreneur?

One of the advantages of a partnership form of business organization is that:

The biggest disadvantage to a sole proprietorship is

A corporation is:

What color is this square?