Business organisations

Sole trader businesses are owned and managed by...

• 2 to 20 people

• 1 person

• Multiple owners

• Partners

Which of the following are of the the 5 main types of businesses in the private sector

• Public Limited Company

• Partnership

• Co-operatives

• Private Limited companies

• Local councils

• Sole trader business have ....................- if the business cannot pay its debts, the creditors can force the sole trader to sell the private possessions and pay them back.

Which of the following is not in the contents of the partnership agreement

• The amount of capital invested in the business by both partner.

• The way in which the profits would be shared out

• Number of family members and relatives the partners look after

• How long the partnership would last

Which of the following are advantages of a Public limited company

• There is no restriction on the buying and selling or transfers of shares.

• All shareholders have limited liability.

• There is large opportunity to raise very large capital sum in the business.

• Not a seperate legal entity

Which of the following businesses is likely to have the most amount of capital

• Partnership

• Public limited Company

• Sole trader

Which of the following is not a disadvantage of Private Limited Companies

• Unlimited Liability

• The company cannot offer shares to the general public

• Seperate legal entity

• Legal formalities to start up

What are the contents of a memorandum of association

• Procedures for appointing directors

• Amount of capital to be raised and number of shares issued

• Timing and frequency of company meetings

• Objectives of company and nature of its activities

Article of association includes

• The details of internal running of the business

• The detailed personal database of the company's employees

• General details of the company and its constitutions

• The details of owner's personal assets and belongings

AGM stands for…......