F.4 Economics Book 2 Chapter 8 in-class assignment 1 21-22

1. Which of the following is a private enterprise?

• A. Government Department

• B. Sole Proprietorship

• C. Public Corporation

• D. Tak Sun Secondary School

2. Leisure and Cultural Services Department is a

(1) government department.

(2) public enterprise.

(3) public corporation.

• A. (1) and (2) only

• B. (1) and (3) only

• C. (2) and (3) only

• D. (1), (2) and (3) only

3. Which of the following is an advantage of Sole proprietorship over partnership?

• A. More sources of capital

• B. No need to disclose financial accounts to public

• C. Faster decision making

• D. Wider scope of specialization

4. Sole proprietorship is a private enterprise with _______________.

• A. limited liability

• B. more than 1 owner

• C. legal entity

• D. unlimited liability

5. Which of the following is a disadvantage of sole proprietorship & partnership?

• A. No need to disclose financial account to public

• B. Fast and flexible decision

• C. Limited source of capital

• D. Close relationship with customers

6. John, a sole proprietor of ABC Company, turning his business into partnership by inviting Peter to be a owner. As a result,

• A. the set up procedure becomes more complex.

• B. decision making is delayed.

• C. the company become a legal entity.

• D. the company need to disclose financial accounts to public.