Revision 1.6 Ownership

Revision 1.6 Ownership

9th Grade

22 Qs

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Revision 1.6 Ownership

Revision 1.6 Ownership

Assessment

Quiz

Business

9th Grade

Practice Problem

Medium

Created by

Laura Vaughan

Used 97+ times

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22 questions

Show all answers

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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