Types of business organisation

A sole trader always must work on their own.

• True

• False

Sole traders are businesses less complicated to run.

• True

• False

In this kind of business, one person can make all the decisions.

• sole trader

• partnership

• private limited company

Sole traders is an unincorporated business.

• Yes

• No

If the owners of a partnership take out a loan they responsible for the loan.

• Yes

• No

Usually, partnerships have between...

• 2 and 20 partners

• 2 and 4 partners

• more than 50 partners

Which one has more financial risk?

• a partnership

• a sole trader

A document that partners can refer to when a conflict happens in a partnership.

• The deed of partnership

• The partnership contract

• The constitution

Which one can attract investment from "sleeping partners"?

• sole trader

• partnership

These are not legally registered as companies or corporations.

• unincorporated businesses

• incorporated businesses