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Business Structures Answers

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Which type of business is best for Juanita to start?

A
a corporation, because she needs a large investment to get started
B
a sole proprietorship, because she will work alone from home
C
a franchise, because many others will want to start the same business
D
a cooperative, so that she and other translators can work together
2
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Juanita wants to grow her business. Which options does she have? Select all that apply.Juanita could incorporate and try to find investors to help her grow her business.Juanita could remain a sole proprietor and begin a web-based magazine.Juanita could take on a partner, become a partnership, and begin hiring other staff members to take on more translating work.Juanita could buy an existing franchise and change its product to fit her translation skills. Juanita could remain a sole proprietor and incorporate her company.

A
Juanita could incorporate and try to find investors to help her grow her business.
B
Juanita could remain a sole proprietor and begin a web-based magazine.
C
Juanita could take on a partner, become a partnership, and begin hiring other staff members to take on more translating work.
D
Juanita could buy an existing franchise and change its product to fit her translation skills.
E
Juanita could remain a sole proprietor and incorporate her company.
3

What is the best business organization for Annabeth’s new company?

A
a corporation, because she will need financing to get started
B
a sole proprietorship, because the business is small and simple to operate
C
a partnership, because she lacks the skills to make machine parts
D
a cooperative, because local businesses will be her customers
4

What is the most significant challenge Annabeth faces in her business model?

A
Annabeth does not have the skills to make machine parts.
B
Annabeth must raise large amounts of capital to get started.
C
There is no demand for solar panel parts in her community.
D
There is no demand for solar panel parts overseas.
5

Why is a cooperative a good choice for Mark, Emiko, and the other farmers in their area?

A
The farmer with the largest farm will make the decisions for the group.
B
No one will have to pay taxes on their earnings.
C
The farmers can all be member-owners and share in any profits.
D
The cooperative does not have to be registered with the state.

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