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Sole Proprietorships

8 terms·StudBud Administration·62 plays

#blindquiz to introduce the #basics of #economics to my #3rdperiod

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Questions 8

Answers

1
What is a Sole Proprietorships
business owned by one individual
business owned by two individuals
business owned by several individuals
business owned by the government
2
How many liabilities do Sole Proprietorships have?
one
three
six
unlimited
3
What are 3 main resources in a Sole Proprietorship?
food, water, air
personal workplace, technology, savings
food, land, water
labor, workplace, land
4
Which is an example of a Sole Proprietorship?
Shell
Cardin's
Papa John's
Toyota
5
Which one is NOT a DISADVANTAGE of a Sole Proprietorship?
lack of permanence
owners have difficulty securing loans
limited resources
there are tax benefits
6
True or False: Sole Proprietorship is started by an Entrepreneur.
False
True
7
Do Sole Proprietorship's need to have licenses/laws?
They're not really needed.
Yes, they are required by law.
Only if they want to.
They don't really matter to the owner.
8
Which one is NOT an ADVANTAGE of a Sole Proprietorship?
personal liability
starting a business is easier
it is cheaper to start a business
owners have total control