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Legal Forms of Business Quiz

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Legal Forms of Business Quiz

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Quiz on legal forms of business (B1 level)

Created by

Hana Borikova
Hana Borikova
Czech Republic

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Legal Forms of Business Quiz
 

Legal Forms of Business QuizOnline version

Quiz on legal forms of business (B1 level)

by Hana Borikova
1

1. What is a sole proprietorship?

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2. What does unlimited liability mean?

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3. How do partners work together in a partnership?

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4. Who owns a corporation?

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5. What is one advantage of an LLC?

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6. A sole proprietorship has one ________.

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7. In a corporation, people can buy ________.

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8. Limited ________ means you are not personally responsible for debts.

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9. A business keeps its ________ after paying costs.

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10. A. Sole proprietorship → ________

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11. B. Partnership → ________

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12. C. Corporation → ________

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13. D. Limited liability company (LLC) → ________

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14. True or False: A partnership has only one owner.

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15. True or False: A corporation is a separate legal entity.

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16. True or False: In a sole proprietorship, the owner has unlimited liability.

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17. True or False: An LLC is a mix of different business forms.

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18. Fill in the missing words: Use these words: profit – liability – owner – shares. 1. A sole proprietorship has one ________.

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19. Fill in the missing words: 2. In a corporation, people can buy ________.

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20. Fill in the missing words: 3. Limited ________ means you are not personally responsible for debts.

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21. Fill in the missing words: 4. A business keeps its ________ after paying costs.

 
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