OCR R064 Enterprise and Marketing: LO5

How many people can be in a partnership?

• 2
• 2-10
• 2-20
• Unlimited

If you have full responsibility for your business debts this is known as ...

• Unlimited Liability

• Limited Liability

• Personal Liability

The term for money invested in a business is ...

• Finance

• Capital

• Investment

• Loan

A _____ is owned and operated by one individual; an example would be a plumber.

• franchise

• partnership

• sole propietorship

• corporation

A _____ is the right or license to sell a company's product or service at a designated location; an example would be McDonalds.

• franchise

• partnership

• sold prprietorship

• corporation

What type of business is owned by stockholders who share the business's profits?

• Corporation

• Partnership

• Cooperative

• Sole Proprietorship

Who is limited liability an advantage to?

• Shareholders
  
• Stakeholders
  
• Sole traders

Companies with "Ltd" in the name are...

• Public Limited companies
• Private Limited comanies

Companies with "PLC" in the name are...

• Public Limited companies
• Private Limited comanies

Private and Public Limited companies both have

• Unlimited Libaility
• Limited libaility