S3 Types of Business
Authored by E Paterson
Business
3rd Grade
Used 58+ times
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18 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unlimited liabilty means...
that you only lose what you invest in the business if it fails
that you are responsible for all business debts if the business fails, you could even lose personal possessions
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A partnership can have how many partners?
2-22
2-30
2-28
2-20
3.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
What does a partnership agreement contain? (pick 3)
Their roles
Their responsibilities
How profits/losses are to be shared
Their qualifications
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
I want to open a dog walking company to earn some extra money. What kind of company should I start?
Private limited company
Sole trader
Partnership
Franchise
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What feature do a sole trader and a partnership share?
Unlimited liabilty
Share the profits
Shared responsibilty
Heavy workload
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who owns and controls a private limited company?
The shareholders
The managers
The employees
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You have to be invited to buy shares in a private limited company
True
False
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