Unincorporated business
Authored by Mariam Ahbabi
Business
9th Grade
Used 5+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Is a business that is owned by just one person.
Sole Trades
Partnership
Unlimited liability
Separate legal identity
Answer explanation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Is the money that a person or business owes.
Separate legal identity
Debt
Sole Traders
Profits
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Is a business owned by two or more people.
partnership
sole trader
Unlimited liability
Debt
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The owners of a business must pay all of its debts, even if they have to use their personal resources to do so.
Separate legal identity
Unlimited liability
unincorporated business
Profit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Is a business that does not have a separate legal identity from its owners. The owners are responsible for all the actions and debts of the business.
Debt
Separate legal identity
Unlimited liability
unincorporated business
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Is a business owned by two or more people.
Unlimited Liablility
Partnership
Sole Traders
Debt
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
one of the advantages of sole traders is relatively easy to set up.
True
False
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