Chapter 1 — Foundations & The Accounting Equation

Business Entity Challenge

Learning Outcome Covered: 1.1c

One owner, several owners, or a company of its own? Grow three storefronts by placing each business in the right form.

🎯 Objective

Five short waves, one for each thing the choice decides: owners, debts, tax, starting up and lifetime. Every wave opens with a concept card, then three business stories to place. The last wave mixes all five with no card.

⭐ How stars work: more stars = a better result. 3 stars = no mistakes at all.

📚 Three Ways to Own a Business

ProprietorshipOne owner, no separate company.
PartnershipTwo or more owners sharing one business.
CorporationA company that is legally its own person.
LiabilityWho has to pay the debts.
DecidesProprietorshipPartnershipCorporation
Owners12 or moreShareholders
DebtsUnlimitedUnlimitedLimited
TaxOwner paysPartners payCompany pays
StartingJust beginWritten agreementState filing
LifetimeEnds with ownerEnds if a partner goesContinues

Unlimited means your house and car can be taken to pay business debts. Limited means you lose only what you put in.

Warm-up: Nadia repairs bicycles alone in her garage and keeps every dollar of profit. That is a proprietorship. Not graded.

How to Play

Read the story, then tap the entity it describes.

Ready?

Thirteen business stories across six waves. No clock — read as slowly as you like.

Your grade is simply how many you get right first time.

When this is on, a wrong answer explains itself before you move on.

Points
0
Round
1/13
🔥0

🏆 Game Complete!

0%
☆☆☆

Keep practicing!

PASSED
0
First-try correct
This is your grade
0
Arcade points
Fun only — not graded

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