Stater quiz 10th Oct 2023 Business

1. Ownership: A private limited company is owned by a small group of individuals or entities, such as family members or investors, who hold shares in the company.

• True

• False

1. Ownership: A public limited company can have an unlimited number of shareholders, and its shares can be traded on a stock exchange.

• True

• False

Limited liability means that the shareholders of a company are only liable for the debts and liabilities of the company up to the amount of their investment. In both PLCs and Ltds, shareholders have limited liability, which helps to protect their personal assets from the company’s debts and liabilities.

• False

• True

Private limited and public limited Companies enjoys continuity, unlike partnerships and sole traders. That is, the business will continue even if one of it’s owners retire or die.

• True

• False

Private limited and public limited companies are incorporated where the shareholders have limited liability and have a separate legal identity from their business.

• True

• False

Private limited and public limited companies also enjoys continuity, unlike partnerships and sole traders. That is, the business will continue even if one of it’s owners retire or die.

• True

• False

Private limited companies are in private sector

• True

• False

Public sector companies are in Public sector

• False

• True

Both public limited and private limited companies are in private sector

• True

• False

Both public limited and private limited companies are in public sector

• False

• True