iGCSE Business revision quiz

In a private limited company, which of the following is NOT true?

• The shareholders have limited liability

• The company can sell its shares to the public

• People must be invited to buy shares in the business

• The company must have at least one shareholder

In a public limited company, which of the following is NOT true?

• The shareholders have limited liability

• The company can sell its shares to the public

• The company must have profits of at least $1million per year

• The company sells their shares on the stock market

Which type of business ownership has ability to sell its shares to the public?

• Sole trader

• Partnership

• Public Limited Company

• Private Limited Company

Which type of business ownership is characterized by the owners sharing profits and losses equally?

• Sole trader

• Partnership

• Franchise

• Public Limited Company

Which type of business ownership is owned and operated by a single individual?

• Sole trader

• Partnership

• Private Limited Company

• Public Limited Company

Which type of business ownership is a separate legal entity from its owners?

• Sole trader

• Partnership

• Unincorporated

• Incorporated

How might businesses measure their success in achieving their aims and objectives?

• By comparing profits to the previous year

• By considering the opinions of stakeholders

• By analysing their market shar\e

• All of the options

What are "SMART" objectives in business?

• Specific, Measurable, Achievable, Realistic, Time bound

• Strategic, Motivating, Achievable, Relevant, Time-bound

• Simple, Measurable, Attainable, Relevant, Timely

• Specific, Monetary Achievable, Realistic, Time bound

What are the main types of stakeholders in a business?

• Internal stakeholders and external stakeholders

• Primary stakeholders and secondary stakeholders

• Profit-oriented stakeholders and non-profit oriented stakeholders

• Financial stakeholders and non-financial stakeholders

How do businesses typically involve stakeholders in decision-making processes?

• By only listening to external stakeholders

• By consulting with them and taking their opinions into account

• By ignoring their input and making decisions unilaterally

• By only listening to internal stakeholders