Revision 1.6 Ownership
Authored by Laura Vaughan
Business
9th Grade
Used 102+ times
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22 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is limited liability an advantage to?
Shareholders in a LTD or PLC
Sole Traders
Partnerships
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a partnership?
A business owned by shareholders
One person trading alone
Two or more individuals trading together
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A form of business ownership in which the owners share the risk of loss and the chance for profit is a(n)
partnership
sole proprietorship
corporation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Although this type of business can be formed through a verbal agreement between two or more individuals, it is better to have a written agreement
Proprietorship
Partnership
Corporation
Franchise
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Owned by one individual.
Sole Trader
Partnership
Corporation
None of the above
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Often the riskiest to own, but owner does not share profit.
Sole Trader
Partnership
Corporation
None of the above.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main advantage of being a sole trader?
Unlimited liability
Limited liability
Be able to make quick decisions
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