Barter System,, types of business organisation, economic sys

Sole trader businesses are owned and managed by..

• 2-20 people

• Multiple owners

• 1 person

• Partners

Which of the following are advantages of a Public limited company

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

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

• All shareholders have limited liability.

• Not a seperate legal entity

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

• Partnership

• Sole Trader

• Public limited

Which of the following are advantages of Private Limited Companies

• Unlimited Liability

• Seperate legal entity

• The company cannot offer shares to the general public

• Legal formalities to start up

Number of partners in a partnership business are.....

• Unlimited

• 200 maximum

• 2 to infinite

• 2-20 partners

Which of the following is the definition for sole proprietorship

• business investment that involves renting or leasing another successful business model

• unincorporated business owned and operated by two or more people who share the profits and have unlimited liability for the debts and obligations of the firm

• unincorporated business owned and run by a single person who has rights to all profits and unlimited liability for all debts of the firm;

• form of business organization recognized by law as a separate legal entity with all the rights and responsibilities of an individual, including the right to buy and sell property, enter into legal contracts, and to sue and be sued

Which of the following is the definition for Franchise

• business investment that involves renting or leasing another successful business model

• unincorporated business owned and operated by two or more people who share the profits and have unlimited liability for the debts and obligations of the firm

• unincorporated business owned and run by a single person who has rights to all profits and unlimited liability for all debts of the firm

• form of business organization recognized by law as a separate legal entity with all the rights and responsibilities of an individual, including the right to buy and sell property, enter into legal contracts, and to sue and be sued

Which of the following is an advantage of a Franchise?

• a nationwide network that had a respected product, a deep product line, excellent quality standards, nationwide advertising, and professional advice whenever needed.

• the ease of raising financial capital through stocks, bonds, and loans.

• the ease of management between two or more partners

• the limited liability protection of a person's assets if the company fails.

Which of the following is an advantage of a Franchise?

• a nationwide network that had a respected product, a deep product line, excellent quality standards, nationwide advertising, and professional advice whenever needed.

• the ease of raising financial capital through stocks, bonds, and loans.

• the ease of management between two or more partners

• the limited liability protection of a person's assets if the company fails.

Easily transferred from one person to another, to make the exchange of money for goods/services easier

• Durability

• Divisibility

• Portability

• Scarcity