Hort: Business Structures & Organisational Policies

What is the main characteristic of a sole trader?

• The business owner is responsible for all debt

• The business owner is protected from personal liability

• The business owner shares ownership with other individuals

• The business owner is not involved in day-to-day operations

How many partners can be involved in a partnership?

• Up to 5 partners

• Up to 10 partners

• Up to 20 partners

• Unlimited number of partners

What is the main advantage of a limited liability company?

• Owners have unlimited liability for the company's debts

• Owners have limited liability and their personal wealth is protected

• Owners have no financial requirements

• Owners have complete control over the company's operations

Which type of business structure involves several locations sharing a brand?

• Sole Trader

• Partnership

• Limited Liability Company

• Chain

What is a franchisee responsible for?

• Providing the business model and brand

• Running the day-to-day operations of the business

• Paying royalties to the franchisor

• Managing the central management of the franchise

What do policies in an organization communicate?

• The organization's plan for tackling an issue

• The organization's financial goals

• The organization's marketing strategies

• The organization's employee benefits

Which type of policy focuses on ensuring a safe working environment?

• Health and Safety

• Complaints

• Dress Code

• Use of Social Media

What does a dress code policy regulate?

• Employee attendance

• Store presentation

• Professional standards

• Employee attire

What does a use of social media policy govern?

• Employee use of social media during work hours

• Employee complaints about the organization

• Employee dress code

• Employee attendance