1.4 Making the business effective

Let's start of with an easy one, What letter completes this question. The marketing mix is also known as the 4 what?

• T's

• P's

• L's

• R's

A very important document that businesses use to help plan, budget and use throughout the life of the business. Business _________.

• Plan

• Document

• Letter

• File

A sole-trader will be responsible for what type of liability?

• None

• Limited

• Un-limited

• Ltd

Limited liability exits when an entrepreneur's risk is _________ to the amount they have actually invested or promised to invest.

• Lower

• Higher

• Limited

• Un-limited

Businesses that have unlimited liability are known as ______________________.

• Un-incorporated

• Incorporated

• Ltd

• Plc

Businesses that have limited liability are also known as ___________________.

• Incorporated

• Un-incorporated

• PLC

• Ltd

Someone who sets up on their own?

• Limited Liability

• Partnership

• Independent

• Sole trader

A business that is owned by a group of two or more people who share the financial risk.

• Sole trader

• Partnership

• Limited Company

• PLC

A legal document that defines the terms of a partnership?

• Share certificate

• Business plan

• Deed of partnership

• Contract

Investors who are part-owners of a company.

• Stakeholder

• Shareholder

• Partner

• Sole trader