Types of Business Ownership - GCSE Business

Someone who is self-employed and runs their own business is likely to be a ...

• Partnership

• Sole trader

• Limited company

• Public limited company

What is unlimited liability?

• It means you do have to pay the debts of the company you own

• It means you have no company debts

• It means you don't have to pay the debts of the company you own

A business which has a huge amount of money invested in it is most likely to be a .....

• Sole Trader

• Private limited company

• Partnership

• Public limited company

Which ownership types have unlimited liability (Meaning they do have to pay the company debts)?

• Partnership

• Private limited company

• Sole trader

• Public limited company

What kind of business is best for opening a store quickly?

• Public limited company

• Franchise

• Charity

• Private limited company

BONUS QUESTION: Which country is this?

• Vietnam

• Cambodia

• Thailand

• Laos

 

If the creator of a business wishes to retain control they should NOT form a ...

• Franchise

• Partnership

• Public limited company

• Sole trader

Which ownership types DO have limited liability (Meaning they don't have to pay the company debts)?

• Partnership

• Private limited company

• Sole trader

• Public limited company

What kind of business doesn't pay its employees and relies on volunteers?

• Sole trader

• Franchise

• Social enterprise

• Charity

Which companies can sell shares to raise money/capital?

• Franchise

• Private limited company

• Public limited company

• Charities