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me12345678

Authored by McKenzie wright W

Business

3rd Grade

Used 1+ times

me12345678
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9 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

what is that

grass

me

matthew

?????????????

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which type of legal structure is used when two or more people join together to start a business and have unlimited liability?

Sole trader

Partnership

LTD

PLC

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following best describes the term limited liability? If the business fails:

Personal possessions of the owner can be taken to pay any debts

The owner is personally liable for all the debts of the business

There is no limit on the amount the owner has to pay to settle debts

The owner only loses the amount invested in the business

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is a drawback for an entrepreneur setting up a business as a sole trader?

Profit is shared

Financial accounts are kept private

Limited liability

Unlimited liability

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What are the owners of private and public limited companies called?

Stakeholders

Managers

Board of directors

Shareholders

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A private limited company may change into a public limited company because it wants:

Limited liability

To raise additional finance

Unlimited liability

To avoid takeover

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which legal structure would an individual wishing to start-up a small business choose because it is quick, easy and inexpensive to set up?

Sole trader

Partnership

LTD

PLC

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