LO1 - Y10 Vcert

Which of the following is NOT an entrepreneurial motivation?

• Determination

• Financial

• Personal

• Social

Which of these characteristics does an entrepreneur need to be successful?

• Kindness

• Friendliness

• Determination

Which of the following is a non-financial business aim?

• Increase revenue

• Profit maximisation

• Diversification

• Profitability

Which of the following is an advantage of being a sole trader?

• Unlimited liability

• Ability to make all the decisions

• Limited liability

Which of the following is a disadvantage of being a partnership

• Unlimited liability

• Limited liability

• One person can keep all the profits

Every limited company has to pay which type of government tax?

• Inheritance tax

• Capital gains tax

• Corporation tax

• VAT

Which of the following is a characteristic of a Private Limited Company (Ltd)

• Unlimited liability

• Shares can only be sold with the consent of other shareholders

• Anyone can buy a share from the stock market

Which two of the following are characteristics of a franchise?

• All the franchises sell the same products

• The franchisee will receive training and support from the franchisor

• You do not have to pay a fee to set one up

• The franchisee does not keep all the profits

Which two of the following are external stakeholders?

• Owners

• Local Community

• Employees

• Customers

Which two of the following are characteristics of a Public Limited Company?

• Shares can be bought and sold on the stock exchange

• Limited liability

• Unlimited liability

• One owner