Types of Business Ownership review

A sole trader is owned by

• 1 person

• 2 - 20 people

• 2 - 50 shareholders

• unlimited number of owners

ABN is an acronym for

• A Business Number

• A Business Name

• Australian Business Number

• Australian Business Name

A partnership can have

• unlimited employees

• 2 - 20 employees

• 2 - 20 partners

• only shareholders

What term best describes the rules for running, potential distribution and division of profits of a partnership?

Unlimited Liability applies to

• Sole Traders and Partnerships

• Private and Public Companies

• Sole Traders and Private Companies

• Partnerships and Public Companies

A public company will have the following letters after its name ..

• Pty

• Pty Ltd

• Ltd

Pty Ltd stands for

• Proprietary Lifted

• Proprietary Limited

• Property Limited

• Property Lifted

ASX is an abbreviation for

• Australian Stock Exchange

• Australian Shareholders Exchange

• Australian Stocks Exchanged

• Australian Securities Exchanged

Not-for-profit organisations are owned by

• Shareholders

• Partners

• Members

• They are not owned by anyone