Multiple Choice
Which section of a business plan typically provides a description of the business, including its mission, products or services, and objectives?
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1. Introduction to Accounting
Business Organization
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Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Which of the following types of business organizations may be owned by shareholders or members?
A
Sole proprietorship
B
Partnership
C
Corporation
D
Government agency
Verified step by step guidance1
Understand the different types of business organizations: Sole proprietorship, Partnership, Corporation, and Government agency.
A Sole proprietorship is owned by a single individual and does not involve shareholders or members.
A Partnership is owned by two or more individuals who share profits and liabilities, but it does not involve shareholders or members.
A Corporation is a legal entity that is separate from its owners. It can issue shares to shareholders or have members, making it the correct answer.
A Government agency is a public entity and is not owned by shareholders or members, as it operates under government control.
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