AnswersEntrepreneurship I - CMSDLegal Forms of Business Ownership

Legal Forms of Business Ownership Answers

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1
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If a business is owned by many people, it is called a _____ .

A
partnership
B
sole proprietorship
C
limited liability company
D
corporation
2
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The newest form of business ownership is a _____ .

A
limited liability company
B
sole proprietorship
C
partnership
D
corporation
3

If two or more people own a business equally, it is called a _____ .

A
limited liability company
B
partnership
C
sole proprietorship
D
corporation
4

The most common form business ownership is called a _____ .

A
partnership
B
corporation
C
limited liability company
D
sole proprietorship
5

If shares of stock can be issued, then the form of business ownership is called a _____.

A
sole proprietorship
B
limited liability company
C
corporation
D
partnership

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