TYPES OF BUSINESS
Authored by Ruth Castillo
Business
Professional Development
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12 questions
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1.
LABELLING QUESTION
2 mins • 7 pts
TYPES OF BUSINESS
2.
DRAG AND DROP QUESTION
1 min • 2 pts
PARTNERSHIP; it can be general or limited.
In (a) both partners invest with 100% of responsibility for any business debts. In (b) they describe who is responsible for certain debts.
3.
MATCH QUESTION
1 min • 1 pt
PARTNERSHIP: advantages and disadvantages
Minimal legal documents.
Easy to establish
Business can stop if partners choose to end partnership
Full liability
More opportunities to increase collaboration
Difficulty in transferring ownership
All members are liable for debts
Distributed workload
Share responsibilities
Combination of expertise
4.
REORDER QUESTION
1 min • 4 pts
CORPORATION: advantages
aren't
responsible for
business debts
Owners
5.
REORDER QUESTION
1 min • 4 pts
CORPORATION: advantages
capital
stocks
Quick
through
6.
REORDER QUESTION
1 min • 4 pts
CORPORATION: disadvantages
to the shareholders
at the corporate rate
They pay income tax
before profits transfer
7.
REORDER QUESTION
1 min • 4 pts
CORPORATION: disadvantages
rather than the owners
the management team
business operations
may direct
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