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202 2.1

Authored by Laura-Jayne Richards

Biology

University

Used 6+ times

202 2.1
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14 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following describes a sole trader?

share a brand and central management, and usually have standardised business methods and practices for daily running

two or more individuals who share management, profits and losses

a company whose owners are legally responsible for its debts only to the amount of money they invested.

one owner of a business, entitled to keep all profits after tax has been paid but liable for all losses too.

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is the minimum amount of people that can be in a partnership?

1

2

4

6

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Out of each of the following organisations which type of business ensures the owners are legally responsible for all debts but only to the amount in which they invested?

Sole Trader

Parternship

Limited Company

Chain

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following describes a Chain?

share a brand and central management, and usually have standardised business methods and practices for daily running

two or more individuals who share management, profits and losses

one owner of a business, entitled to keep all profits after tax has been paid but liable for all losses too

a business (franchisee) that legally uses someone else’s (franchisor’s) expertise, ideas and processes.

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following describes a partnership?

a company whose owners are legally responsible for its debts only to the amount of money they invested.

share a brand and central management, and usually have standardised business methods and practices for daily running

one owner of a business, entitled to keep all profits after tax has been paid but liable for all losses too

two or more individuals who share management, profits and losses

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is a business that has an owner liable for all profit and losses known as?

A sole trader.

A limited company.

A partnership.

A chain.

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Wearing company overalls is covered under which policy at work?

Attendance

Dress code.

Professional standards.

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