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Types of business organisation

Authored by Priyahasini Sevanesan

Other

9th - 12th Grade

Used 32+ times

Types of business organisation
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who takes a risk to produce goods and services in search of profit -

entrepreneur

partners

magistrate

profiteer

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What kind of business is BEST described by these statements?

I am the only owner of my business. 

I take all the risks of doing business. 

I keep all the profits. 

sole trader

partnership

franchise

joint venture

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a disadvantage of partnerships?

ease of formation

limited liability

owners share responsibilities

possibility of personality conflict

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Yoon Hye Jin met a senior and fell in love with the guy. When Hong Banjang found out, he became unsound mind causing this business to dissolve. What type of business is this?

Limited Liability of Partnership

Partnership Act 1961

Partnership

Sole Proprietorship

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which type of organization does one person take all the risks?

corporation

monopoly 

partnership

sole trader

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which are the disadvantages of a partnership?

Partnership must be reorganized if one partner quits

Partners share unlimited liability

Partners may not get along

All of these are correct

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one of the picture is described as franchise?

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