Access2HE - D1 Business Structures

What is the primary source of UK company law?

• Partnership Act 1980

• Business Names Act 1985

• Health and Safety Executive (HSE)

• Companies Act 2006

Which type of business ownership has unlimited liability for debt and profit?

• Limited liability company

• Co-operative enterprise

• Franchise

• Sole trader

What is the maximum number of partners allowed in a partnership?

• 20

• 10

• 40

• 30

Which type of business ownership has owners with limited liability for debts?

• Limited liability company

• Partnership

• Franchise

• Sole trader

What is the minimum share capital required for a public limited company (plc)?

• £100,000

• £50,000

• £10,000

• £25,000

Which type of business ownership is managed by trustees?

• Charity

• Franchise

• Sole trader

• Limited liability company

What is the main purpose of a charity's surplus?

• To pay shareholders

• To benefit the trustees

• To comply with the law

• To benefit the chosen cause

Which type of business ownership is owned and controlled by private individuals?

• Public sector

• Private sector

• Franchise

• Co-operative enterprise

What is the primary activity of a business?

• Buying and selling products or services

• Research and development

• Manufacturing goods

• Providing financial services

What is the name used by a business for carrying out business that is not the same as their official registered name?

• Official name

• Brand name

• Legal name

• Trading name