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Legal Entities

Authored by Emma Foster

Business

12th Grade

Used 6+ times

Legal Entities
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10 questions

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1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Identify the Unincorporated business organisations. (There is more than one answer)

Sole Trader

Limited Company

Limited Partnership

Limited Liability Partnership

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

There are 3 types of partnerships: Limited partnership, Limited Liability Partnership and what other type of partnership?

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which ONE of the following is the minimal value of issued shares a limited company must have to become a public limited company?

£5000

£50,000

£8000

£80,000

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which ONE of the following is the government act that introduced community interest companies (CICs) in the UK?

a.    Companies Act 2016

a.    Companies Act 1986

a.    Companies Act 2006

a.    Companies Act 1956

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

What is the minimum percentage of profit a community interest company must state in its asset lock?

6.

OPEN ENDED QUESTION

3 mins • 1 pt

Explain the main benefit of starting an incorporated business organisation.

Evaluate responses using AI:

OFF

7.

OPEN ENDED QUESTION

3 mins • 1 pt

Explain ONE advantage of being a sole trader.

Evaluate responses using AI:

OFF

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