Types of Business Organizations: Advantages & Disadvantages


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question 1 of 3

Choose the best description of a sole proprietorship.

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1. Choose which answer is NOT an advantage of a sole proprietorship.

2. Corporations have advantages and disadvantages. Choose which answer is NOT an advantage of a corporation.

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About This Quiz & Worksheet

This quiz/worksheet combo helps you gauge your knowledge of the types of business organizations that exist today. You will be quizzed on corporations and sole proprietorship.

Quiz & Worksheet Goals

Using these assessment tools, you can review the following topics:

  • The structure of a corporation
  • Advantages of partnerships
  • Example of a sole proprietorship
  • Advantages of corporations

Skills Practiced

Use these assessments to test out the following skills:

  • Information recall - access the knowledge you have gained regarding advantages of corporations
  • Reading comprehension - ensure that you draw the most important information from the related lesson on business organizations
  • Defining key concepts - ensure that you can accurately define main phrases, such as corporation and sole proprietorship

Additional Learning

If you are interested in learning more about the business organizations that exist today, check out the lesson titled Types of Business Organizations: Advantages & Disadvantages. This lesson will help you:

  • Identify the benefits of having a sole proprietorship
  • Understand the pros and cons of corporations
  • Learn what a limited liability company is
  • Examine the advantages and disadvantages of partnerships