L3 ATDip Floristry: LO 1 Business Types

What is the primary source of UK company law?

• Companies Act 2006

• Business Names Act 1985

• Partnership Act 1980

• Companies House

Which type of business ownership has unlimited liability for all partners?

• Sole Trader

• Franchise

• Partnership

• Limited Liability Company

What type of business is owned and regulated by the state/government?

• Public Sector

• Sole Trader

• Franchise

• Chain

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

• Sole Trader

• Co-operative Enterprise

• Partnership

• Limited Liability Company

What is the name used by a business to trade, which can be different from its legal name?

• Brand

• Franchise Name

• Trading Name

• Chain Name

Which type of business ownership model involves a joint venture between the franchisor and the franchisee?

• Sole Trader

• Partnership

• Franchise

• Limited Liability Company

What type of business is a non-profit-making organisation that raises money for a chosen cause?

• Franchise

• Chain

• Limited Liability Company

• Charity

Which type of business sector includes organisations owned by private individuals or companies?

• Private Sector

• Franchise

• Public Sector

• Voluntary Sector

What is the activity of buying and selling products or services?

• Product

• Service

• Chain

• Franchise

Which type of business ownership model is self-employed and has one business owner?

• Co-operative Enterprise

• Sole Trader

• Limited Liability Company

• Partnership