Business Activity
Flashcard
•
Business
•
10th - 11th Grade
•
Practice Problem
•
Hard
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11 questions
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1.
FLASHCARD QUESTION
Front
Which of the following is a benefit of being a Sole Trader? The owner has limited liability, Finance can be raised by selling shares to friends and family, The owner has complete control over business decisions, Workload can be shared between the owners
Back
The owner has complete control over business decisions
2.
FLASHCARD QUESTION
Front
Which of the following is a benefit of being a Partnership? The partners have limited liability, Finance can be raised by selling shares to friends and family, One person has complete control over business decisions, Each partner can contribute finance and skills to the business
Back
Each partner can contribute finance and skills to the business
3.
FLASHCARD QUESTION
Front
Which of the following is a benefit of setting a business up as a Private Limited Company (Ltd)?
The owners have limited liability
It's the quickest and cheapest type of business to set up
The finances of the business can be kept private
Dividends must be paid to the shareholders
Back
The owners have limited liability
4.
FLASHCARD QUESTION
Front
Which of the following is a benefit of setting a business up as a Public Limited Company (plc)?
Options:
The owners have unlimited liability
Large sums of finance can be raised by selling shares on the stock exchange
The business can be taken over if someone buys 51% or more of the shares
Members of the public can buy products and services from the business
Back
Large sums of finance can be raised by selling shares on the stock exchange
5.
FLASHCARD QUESTION
Front
What does the term unlimited liability mean?
Back
The owners of the business are personally responsible for the debts of the business, and might have to use their own money to pay off debts.
6.
FLASHCARD QUESTION
Front
Which of the following objectives is a small, new business most likely to have when entering a competitive market?
Options:
To make £1 million profit in the first month of trading,
To expand to 3 other countries,
To survive the first year of trading,
To be the market leader within the first 6 months
Back
To survive the first year of trading
7.
FLASHCARD QUESTION
Front
Which of the following is an internal stakeholder of a business?
The government, A supplier, A customer, An employee
Back
An employee
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