Types of Business Ownership
Unknown Grade•45 minutes
Learning Objective
I can identify and describe the four main types of business ownership: sole proprietorship, partnership, corporation, and limited liability company (LLC).
Practice Questions
This lesson includes 5 practice questions to reinforce learning.
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1. Define a sole proprietorship and list two advantages and two disadvantages of this type of business ownership.
2. Compare and contrast partnerships and corporations in terms of liability and profit distribution. Provide specific examples from the video to support your answer.
3. Explain the concept of limited liability in a corporation. Why is this an important feature for business owners?
...and 2 more questions
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