GCSE Business quiz

Which of these has unlimited liability?

• Sole Trader

• Private Limited Company

• Public Limited Company

• Multi National Company

A sole proprietor has to share the profits made by the business. True or False?

• True

• False

Select TWO true statements that relate to a sole trader.

• Sole traders have limited liability

• Sole traders get to make all their own decisions about the business

• Sole traders may find it harder to raise funds for the business

• Sole traders usually get more holidays than partners or directors

Why may an entrepreneur prefer to set up a business as a partnership?

• The entrepreneur would get to make all the decisions

• They entrepreneur would get to keep all the profit

• The business would benefit from a greater range of skills and knowledge

• The business would make more money quicker

Partnerships are set up by....

• One person

• Two or more people

• Ten or more people

• Twenty or more people

Which of the following are types of limited company? (Select 2 answers)

• Personal

• Private

• Public

• Premier

A limited company is owned by

• Shareholders

• Stakeholders

• Directors

• Employees

A sole trader is responsible for all the debts of the business. True or False?

• True

• False

A target market is a group of _______ that the _______ has decided to aim its marketing efforts and ultimately its merchandise towards.

• Companies, Business
• Companies, Research
• Customer, Business
• Business, Customer

What is a business plan?

• Written document that only outlines the business practices of the new business.

• Written document that describes the financial aspects of the business.

• Written document that only describes the ownership of the business.

• Written document that describes all the steps necessary for opening and operating a successful business.