Organizational Structure & Ownership of a Business

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is the most significant risk factor in a sole proprietorship?

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1. How are sole proprietorships taxed?

2. How are taxes handled in a partnership form of business ownership?

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About This Quiz & Worksheet

This quiz and corresponding worksheet gauge your understanding of the different types of business organizational structure and ownership. Topics you'll need to know to pass the quiz include the characteristics of various business structures and how they relate to ownership.

Quiz & Worksheet Goals

Use this printable worksheet and quiz to review:

  • The significant risk factor in sole proprietorships
  • How taxes differ for partnership and sole proprietorship
  • Benefits for forming a partnership agreement
  • Definition of a corporation

Skills Practiced

This worksheet and quiz let you practice the following skills:

  • Reading comprehension - ensure that you draw the most important information from the business organizational structure and ownership lesson
  • Defining key concepts - ensure that you can accurately define main phrases, such as corporation
  • Critical thinking - apply relevant concepts to examine the benefits and risks of different business organizational structures
  • Knowledge application - use your knowledge to answer questions about how sole proprietorships are taxed

Additional Learning

To learn more about business organizations structure and ownership, further review the corresponding Organizational Structure & Ownership of a Business lesson. This lesson covers the following topics:

  • The four main ways to structure a business
  • Pros and cons for each structure
  • Definition of a limited liability corporation
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