Forms of Business Ownership
Authored by Matthew Prebble
Business, Life Skills
9th - 12th Grade
Used 1K+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
A business with one owner is known as a:
Company
Sole trader
Partnership
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business run by 2-20 people and has unlimited liability is known as a:
Company
Sole trader
Partnership
3.
MULTIPLE SELECT QUESTION
10 sec • 1 pt
The two forms of business ownership with unlimited liability are:
Sole trader
Public company
Partnership
Private company
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Advantages of a sole trader are:
Limited liability
The owner makes all the decisions
The owner takes all the profit
Can raise substantial capital
5.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Advantages of a partnership are:
The partners split the profit
Unlimited liability
Raise more capital than a sole trader
Share the workload
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the name of a person who owns part of a corporation?
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the most common form of business ownership?
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