Business quiz

sole trader

• a business owned by 1 person

• a form of business in which 2 or more people agree to jointly own business

• businesses owned by shareholders but they cannot sell shares to the public

• a teeny weeny tiny winy lil duckie wuckie

Advantage of sole trader

• more freedom over decisions

• more capital investment

• can sell shares to the public

• silly lil duckie wuckie waddled into the abyss

Disadvantages of sole trader

• can not sell shares to public

• more capital investment

• unlimited liability

• meow 😻

Partnership

• a business owned by 1 person

• a form of business in which 2 or more people agree to jointly own business

• businesses owned by shareholders but they cannot sell shares to the public

• a teeny weeny tiny winy lil duckie wuckie

Advantage of partnership

• more freedom over decisions

• more capital investment compared to sole trader

• can sell shares to the public

• meowowowowow meow meow meow (real)

Disadvantages of partnership

• can not sell shares to public

• more capital investment

• less freedom than sole trader

• Ted Hughes!!!

Private Limited Company

• a business owned by 1 person

• a form of business in which 2 or more people agree to jointly own business

• businesses owned by shareholders but they cannot sell shares to the public

• a teeny weeny tiny winy lil duckie wuckie

Public Limited Company

• a business owned by 1 person

• a form of business in which 2 or more people agree to jointly own business

• businesses owned by shareholders but they can sell shares to the public

• a teeny weeny tiny winy lil duckie wuckie

Public corporations

• a business in public sector owned and controlled by the government (state)

• a form of business in which 2 or more people agree to jointly own business

• businesses owned by shareholders but they can sell shares to the public