Business basics

Business basics

8th Grade

6 Qs

quiz-placeholder

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Business basics

Business basics

Assessment

Quiz

Business

8th Grade

Practice Problem

Hard

Created by

Shantoya Forbes

Used 4+ times

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6 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Who is a sole trader ?

A sole trader is a self-employed person who owns and runs their own business as an individual.

A person who is in a business with his family but does not make the decisions by himself

A person who does not have a say in decisions

A person who trades

2.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Sole proprietorship business owner has?

Restricted Liability

No Liability

Unlimited Liability

Limited Liability

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Who can start a sole proprietorship?

You & your best friend

Your dog

Anyone

Needs government approval

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An example of a sole trader is ?

A shop keeper

A nurse

A doctor

A pharmacist

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a disadvantage of a Sole Proprietorship?

Easy to raise capital money

Fully/personally responsible for any issues

Decisions don't need approval

Business can continue after owner dies

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an advantage of a sole trader business?

Decisions don't need a approval

Hard to get out of business

Split profit equally

A person tells you what to do

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