Topic 8 - Types of Organisation

Which of the following organisations belong to the public sector?

• Private Limited Company

• Sole Trader

• Public Corporation

• Partnership

Choose the correct answer(s) based on the description below:

- Owner and business are NOT Separate Legal Entity

- Can have at least 2 owners

- Owners have unlimited liability

- The business has no shares, but has a contract that determines how much profits each owner is entitled to.

• Public Limited Company

• Partnership

• Sole Trader

• Private Limited Company

Choose the correct answer(s) based on the description below:

- Business can offer shares to investors

- Investors are normally friends and family

- Must be run by a board of directors

- Expensive and complex to set up

- Shares cannot be sold on the stock exchange

• Partnership

• Public Limited Company

• Private Limited Company

• Public Corporation

Which type or organisation is known as a C-Corporation in the United States of America?

Which of the following business(es) is/are UNINCORPORATED?

• Partnership

• Sole Trader

• Public Limited Company

• Public Corporation

Read the following definition and choose the word that best fits the definition:

The business shall continue to exist even if one of the owner die or liquidate his shares of the business. This is a feature enjoyed by incorporated businesses.

• Separate legal entity

• Shares

• Continuity

• Limited liability

This type of business can offer and advertise the sale of shares publicly, and are listed on stock exchanges of one or more countries.

• Private Limited Company

• Public Limited Company

• Sole Traders

• Partnerships

In this type of business, shareholders can vote to bring in new directors or vote to fire poor-performing directors from the board.

• Private Limited Company

• Public Limited Company

• Sole Trader

• Partnership