Title: Unit 2 Quiz
Course: SLF 125 Business Planning and Startup > Section: SLF 125 Business Planning and Startup

Q: Which of the following business structures includes this risk factor: You alone own the company and are responsible for its assets and liabilities.
- Limited liability company (LLC)
- Sole proprietorship
- Cooperative
- None of these
A: Sole proprietorship

Q: Which business structure is generally utilized by larger businesses?
- Corporation
- Cooperative
- LLC
- Sole proprietorship
A: Corporation

Q: Which of the following business types will require federal licensing?
- Fishing and wildlife
- Transportation
- Firearms
- All of these
A: All of these

Q: Advice about going into business with family members includes _____.
- It can be difficult to separate family issues from business issues.
- With upfront planning, families that work together can be successful.
- Both of the statements above are true.
- None of these statements are true.
A: Both of the statements above are true.

Q: Although customers are loyal because of their satisfaction with the products and services provided by a business, an appropriate business name is important to gain attention and convey the brand message of a business.
- True
- False
A: True