Business Structures

Front

What is a form of business ownership in which 2 or more people jointly owns a business?

Back

Partnerships

Front

The major policy and financial decision makers of a corporation are determined by the...

Back

Board of Directors

Front

Can a sole trader run their business under a name different from their own?

Back

Yes

Front

Name the entity that has a separate legal person from its members, and these members are only liable for the cost of the shares they have purchased

Back

Limited Liability Company

Front

A partnership pays

Back

no tax

Front

A company must be registered with

Back

ASIC

Front

In a partnership, there are normally between

Back

2-20 members

Front

A company has contractual capacity to enter into contracts with anyone including its own members

Back

True

Front

Can a sole trader hire more than 3 employees?

Back

Yes

Front

A partnership as a business is

Back

not a separate legal entity