1.Types of organisations

What type of organization is a business owned and operated by a single individual?

• Corporation

• Partnership

• Sole proprietorship

• Cooperative

In a partnership, the partners typically share:

• Limited liability

• Unlimited liability

• Ownership with the government

• Stock market shares

Which type of organization has shareholders, limited liability, and the ability to issue shares to the public?

• Sole proprietorship

• Partnership

• Private limited company

• Charity

A business that is fully owned and run by the government.

• Public limited company

• Public Organisation

• Cooperative

• Nonprofit organisation

Which type of organization is focused on providing goods or services for the benefit of society rather than making a profit?

• Nonprofit organization

• Corporation

• Franchise

• Partnership

Limited liability means that the personal assets of the owners are:

• Fully responsible for business debts

• Not at risk in the event of business debts

• Tied to the business's performance

• Converted into shares

What type of organization is often formed by entrepreneurs to take advantage of the benefits of limited liability?

• Private limited company

• Partnership

• Sole proprietorship

• Nonprofit organization

In which type of organization do the owners have unlimited liability, meaning they are personally responsible for the business's debts?

• Public limited company

• Sole Trader

• Cooperative

• Charity

A nonprofit organization is primarily focused on:

• Maximizing profits for shareholders

• Generating revenue for the government

• Providing a public service without pursuing profit

• Competing with other businesses

Which type of organization often offers shares to the public through a stock exchange and has a legal identity separate from its owners?

• Public Corporation

• Sole proprietorship

• PLC

• Franchise