Business Organizations Worksheet
A worksheet for Grade 9 Social Studies students covering different types of business organizations, their characteristics, advantages, and disadvantages.
Includes
Standards
Topics
Business Organizations
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Read each question carefully and provide your best answer. This worksheet covers different types of business organizations, their characteristics, advantages, and disadvantages.
1. Which type of business organization is owned and operated by a single individual?
Partnership
Sole Proprietorship
Corporation
Cooperative
2. A major disadvantage of a sole proprietorship is:
Ease of formation
Limited liability
Unlimited liability
Retention of profits
3. In a partnership, two or more individuals agree to own and operate a business together, sharing both profits and .
4. A is a legal entity separate from its owners, offering limited liability to its shareholders.
5. One advantage of a corporation is that it has a perpetual existence, meaning it can continue to operate even if ownership changes.
True
False
6. Limited liability means that business owners are personally responsible for all business debts.
True
False
Match each business organization type with its characteristic.
7. Sole Proprietorship
a. Owned by shareholders
8. Partnership
b. Unlimited liability, single owner
9. Corporation
c. Shared profits and losses, multiple owners
10. Describe one advantage and one disadvantage of forming a partnership.