Business Ownership

Which of the following types of business have unlimited liability

• Sole Trader

• Partnership

• Private Limited Company

• Public Limited Company

Which of the following is the best description of Unlimited Liability?

• The profits available are unlimited

• The owners responsibility for the debts of the company are unlimited

• You cannot lose your house or your car because they are protected

• The company has a separate legal identity

Which of the following is an advantage of being a Sole Trader

• Profits need to be shared

• Shares can be sold to friends and family

• They have unlimited liability

• Full control over decision making

Who can Private Limited Companies sell their shares to?

• Members of the public

• Friends and family

Which is the odd one out?

• Private Limited Company (Ltd)

• Private Limited Company (PLC)

• Public Limited Company (PLC)

Which is the only ownership type that allows the owner to keep all the profit?

• Private Limited Company

• Partnership

• Sole Trader

• Public Limited Company

Which ownership type can sell shares on the stock exchange to the general public?

• Sole Trader

• Partnership

• Ltd

• PLC

What is a form of business ownership in which 2 or more people jointly owns a business

• Sole Proprietorship
• Company
• Partnerships

Which of the following is an advantage of a partnership?

• Unlimited Liability
• Arguments
• Shared responsibility
• Less investors

What are the owners of private and public limited companies called?

• Stakeholders

• Managers

• Board of directors

• Shareholders