Who Owns the Business? Sole Proprietors, Partners and Corporations

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Business and Personal Finance · Business / Marketing / Entrepreneurship
SP-BUS-001 · Free to print and use in your classroom · substituteplans.com
Page 2
Who Owns the Business? Sole Proprietors,
Partners and Corporations
Business and Personal Finance · Business / Marketing / Entrepreneurship · Grades 9-10 · 50 minutes
Time needed
50 minutes (one class period)
Prep
Copy the 2-page worksheet (one per student).
Technology
None.
Student
independence
High. Students read and work alone, then check with a partner.
Copies to make
One 2-page worksheet per student
Materials
Pencils, Worksheet
Goal for today: Students will compare sole proprietorships, partnerships, corporations and LLCs by number of owners
and responsibility for debts, and choose a fitting type for a given situation.
Before the bell
☐ Copy the worksheet, one per student (2 pages).
☐ Keep the answer key on your desk. No business background is needed.
☐ Write the day’s timing (reading, table, questions, check) on the board if you like.
Say this to start
Today we are looking at the different ways a person can own a business. Some are simple and some protect the owner
more. You will read a short passage, fill in a chart, and then decide which type fits four real-life situations. Everything
you need is in the passage, and you may talk quietly with a partner on the chart.
Run of show
Minutes
What you do
What students do
0–5
Take attendance. Hand out the worksheet and read the
directions aloud.
Look over the worksheet and the passage
title.
5–15
Have students read the passage silently and underline how
many owners each type has.
Read silently and underline.
15–27
Tell students to complete the comparison table. Partners
may compare answers quietly.
Fill in the blank boxes using the passage.
27–42
Tell students to do questions 1–6 (matching), 7–10
(multiple choice) and 11–12 (short answer) on their own.
Answer all twelve questions.
42–47
Read the answers aloud from the key. Students check and
fix their own work in a different color.
Correct mistakes in another color.
47–50
Collect the worksheets and stack them for the teacher.
Hand in the worksheet.
If things go wrong
• If students say they have not studied business: the passage teaches everything needed. Have them reread it.

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Business and Personal Finance · Business / Marketing / Entrepreneurship
SP-BUS-001 · Free to print and use in your classroom · substituteplans.com
Page 3
• If students argue about which type is “best”: tell them each type has trade-offs and the questions ask which
FITS the situation.
• If a student finishes early, ask them to double-check the table against the passage, then use the early finisher
ideas.
• If the room gets loud, return to silent work for five minutes, then allow partners again.
Early finishers
• Think of a local business you know. Write which ownership type you think it might be and why.
• Write one pro and one con of running a business with a partner.
• Invent a name for a new business and say which ownership type you would choose.
Support and challenge
• Support: Let students read the passage in pairs, alternating paragraphs, and fill in the table together.
• Challenge: Ask students to explain why a corporation can raise more money than a sole proprietorship.
Notes for the teacher (you fill this in)
Jot a few lines before you leave. A full Daily Sub Report is in the free Sub Survival Kit at SubstitutePlans.com.
How far the class got / what to pick up next:
Students who were especially helpful:
Anything the teacher should know: