Year 8 Business Ownership - Pop Quiz
Authored by Kelsie Schuler
Business
7th - 10th Grade
Used 33+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Owned and operated by one person.
Partnership
Private Company
Sole Trader
Pubilc Company
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unlimited Liability is when
Shareholders in the company will only lose the money they have invested.
The owner has to pay off all the debts of the business. To the extent that their private assets may be sold to cover the businesses debts.
The amount of money the owner invests into the business.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Capital is defined as
The amount of money/assets the owner invests into the business
The first letter of a sentence
The money the owner withdraws from the business
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Partners have unlimited liability for the debts of their business.
False
True
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The owners agree on how they will divide profits/losses and work load.
Sole Trader
Private Company
Partnership
Public Company
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The shareholders of this type of business ownership (often family members) can be employed by the company.
Public Company
Partnership
Private Company
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One of the costs of being a sole trader is...
Retains all profit
Long hours of work
Easy to establish
Low start up costs
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