types of business organization

Which of the following is not a stakeholder for a business

• Doctor

• Competitor

• Supplier

• Government

Which of the following is a disadvantage of becoming a sole trader?

• You keep all the profit

• You have unlimited liability

• You have full control over your business

• The business is easy to set up

Which of these is most likely to be a public sector organization

• A car manufacturer

• A biscuit factory

• The police

• a restaurant

What does the word "limited" after a business name indicate?

• The number of owners is limited

• There is a limit to the number of loans that can be issued

• The owners' liability for the debts of the business is limited

• there is a limit to the number of businesses of this type

A limited company must have which of the following?

• Unlimited liability

• The ability to sell shares to friends and family

• An auditor checks on its financial statements

• A government-run business

Which of the following is the best definition of a stakeholder?

• someone who is affected by a business

• someone who has control over a business

• someone who is paid by a business

• someone who sponsors a business

Why should a sole trader record all the financial information about her business?

• because she is required to do so by law

• so that she knows how much to pay her supplier

• so that she can prepare financial statements

• so that she knows how much her customers owe for her