Quiz: Chapter 16 Quiz-Business Organizations: Paraschos Stavrinos (ccsnh.edu)
Please review the material in Chapter 16 of the textbook as well as in the Learning Module. Then answer the following questions. Correct answers are those based on the textbook:
- If you were deciding to start a business, what factors would you consider in determining what your business entity should be?
- What professionals should you consult before you make a decision as to what entity will best meet your needs in your new business?
- What are the advantages and disadvantages of doing business as a sole proprietor?
- What other forms of doing business are there?
- What are the rights and duties of general partners?
- What is the difference between a limited partnership and an LLP?
- How can a partnership be dissolved?
- What is the difference between a partnership and a joint venture?
- How many people does it take to form an LLC?
- Why do so many corporations incorporate in the state of Delaware?
Extra Credit: What is the most common form of business organization in the United States?
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