MGT100 - Sole & Partner
Flashcard
•
Fun
•
12th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
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8 questions
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1.
FLASHCARD QUESTION
Front
business owned by one person
Back
sole proprietorship
2.
FLASHCARD QUESTION
Front
Which is NOT an advantage of a sole proprietorship? Easy to start up and close, retain all the profits, No special taxes
Back
limited liability
3.
FLASHCARD QUESTION
Front
Which is NOT a disadvantage of a sole proprietorship? Options: unlimited liability, lack of capital, must do all the work
Back
make all the decisions
4.
FLASHCARD QUESTION
Front
Which type of ownership is most popular? Options: sole proprietorship, partnership, corporation, LLC
Back
sole proprietorship
5.
FLASHCARD QUESTION
Front
person who invests money in a business but has no management responsibility.
Back
limited partner
6.
FLASHCARD QUESTION
Front
contract made listing and explaining the terms of a partnership
Back
articles of partnership
7.
FLASHCARD QUESTION
Front
A major disadvantage of a partnership includes: limited liability, special taxes, combined business knowledge, management disagreements
Back
management disagreements
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