Exam 1

Unit 4 Topic: Options for Organizing Business

Unit 4’s duration is 1 week long

Course-Level Outcome:

Upon successful completion of this course, you will be able to recognize and identify basic forms of business ownership.

Unit Level Learning Outcomes:

One learning goal of this class is to introduce you to the various forms of business ownership. In this unit, you will be able to:

• Compare and contrast the advantages and disadvantages of the various business including:

• Sole proprietorships

• Partnerships

• Corporation

• Franchising

• Entrepreneurship

• Identify and analyze primary reasons for small business success and failure.

Summative Assessment:

You will be provided an objective test that includes 50 multiple choice and true/false questions. This summative assessment addresses course level objective 2 “What are the major forms of business ownership?” from the course outline of record.

Instructions:

Read each question carefully, and then choose the answer that best fits the question. There are 50 multiple choice and true/false questions. You will have 60 minutes to complete the exam.