Business Ownership and Planning

Business Ownership and Planning

Assessment

Flashcard

Business

10th Grade

Easy

Created by

Louise Barratt

Used 2+ times

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

Business Ownership Types

Back

Sole traders, partnerships, private limited companies, franchise

2.

FLASHCARD QUESTION

Front

Advantages of Sole Traders

Back

Easy to set up, keep all profits, make all decisions

3.

FLASHCARD QUESTION

Front

Disadvantages of Sole Traders

Back

Unlimited liability, long hours, few holidays, unincorporated

4.

FLASHCARD QUESTION

Front

Advantages of Partnerships

Back

More ideas, can share workload, more start-up capital

5.

FLASHCARD QUESTION

Front

Disadvantages of Partnerships

Back

Unlimited liability, unincorporated, possibility of disagreements

6.

FLASHCARD QUESTION

Front

Advantages of LTD

Back

Incorporated, limited liability, easier to raise capital

7.

FLASHCARD QUESTION

Front

Disadvantages of LTD

Back

More expensive to set up, must publish accounts, profits shared

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