Forms of business organization

In a general partnership liability of partners is .......................

• 
  UNLIMITED

• 
  LIMITED 

This type of business is owned by one person.

• 
  Partnership

• 
  Sole Proprietorship

• 
  Joint venture

• Franchise

This type of business is owned by two or more people.

• Sole Proprietorship

• Partnership

• Joint venture

• Franchise

Nike, Google and Apple are examples of.....

• Sole proprietorship

• Partnership

• Public limited companies

• Joint venture

McDonald's and Burger King are examples of....

• Sole Proprietorships

• Partnerships

• Joint venture

• Franchises

Advantages of this business type are that the owner is their own boss and gets to keep all the profits.

• Partnership

• Sole Proprietorship

• Limited companies

• Franchise

Disadvantages of this business type include: needs a partnership agreement, partners might not get along, owners share profits, unlimited liability.

• Sole Proprietorship

  
  

• Partnership

• Franchises

• Limited companies

Advantages of this type of business include: selling stock to raise money, limited liability.

• Limited companies

• Partnership

• Sole trader

• Franchises

Registration of a partnership business is ....................

• Optional

• Compulsory

In a general partnership liability of partners is .......................

• Limited

• Unlimited