Business Structures Flashcard
Flashcard
•
History
•
11th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
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15 questions
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1.
FLASHCARD QUESTION
Front
What are the disadvantages of a partnership?
Back
Unlimited personal liability.
2.
FLASHCARD QUESTION
Front
What are the advantages of a sole proprietorship?
Back
Easy setup and complete control
3.
FLASHCARD QUESTION
Front
List the different types of partnerships.
Back
General partnership, Limited partnership, Limited liability partnership
4.
FLASHCARD QUESTION
Front
What is the main difference between a bank and a credit union?
Back
Banks are for-profit, while credit unions are not-for-profit.
5.
FLASHCARD QUESTION
Front
What is freelance work?
Back
Providing professional services on a contract basis
6.
FLASHCARD QUESTION
Front
What is gross income?
Back
Total amount earned before taxes and deductions
7.
FLASHCARD QUESTION
Front
What is net income?
Back
Amount of money after taxes and deductions
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