company ownership

What is the liability of sleeping partners in a limited partnership?

• They are not liable for any debts
• They are fully liable for all debts
• They are only liable for half of the debts
• They are only liable for debts up to a certain amount

What is the difference between a sole trader and a partnership?

• A sole trader has unlimited liability, while a partnership has limited liability
• A sole trader has unlimited capital, while a partnership has no capital
• A sole trader has limited liability, while a partnership has unlimited liability
• A sole trader has no capital, while a partnership has unlimited capital

What is a limited company?

• A company with multiple owners
• A company with unlimited liability
• A company with no capital
• A company with limited liability

What happens to personal assets in a sole trader if the business fails?

• They are transferred to the government
• They are sold to pay off business debts
• They are not affected
• They are divided among the partners

What is a limited partnership?

• A partnership with multiple owners
• A partnership with unlimited liability
• A partnership with no capital
• A partnership with limited liability

What is a sole trader?

• A company with unlimited liability
• A company with no capital
• A company with multiple owners
• A company with limited liability

What type of partnership has sleeping partners?

• Public Partnership
• Limited Partnership
• Unlimited Partnership
• Private Partnership

Who provides all the capital in a sole trader?

• The shareholders
• The person running the company
• Multiple people
• The government

What happens to personal assets in a partnership if the business fails?

• They are transferred to the government
• They are divided among the partners
• They are not affected
• They are sold to pay off business debts

Who provides the capital in a partnership?

• Multiple people
• The shareholders
• The government
• The person running the company