Forms of Business Ownership Quiz
Authored by Nelisiwe Mutasa
Business
8th Grade
Used 22+ times
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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a characteristic of a sole proprietor business?
Unlimited liability
Jointly liable for legal/financial/ethical problems
Requires three or more directors
The company name ends in (PTY) Ltd.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of a private company?
Easy to raise funds for growth through the sale of shares
The name ends with Ltd.
The company and its owners (shareholders) are separate entities
If the company fails to attract financially strong shareholders, it may hamper its growth opportunities
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a characteristic of a public company?
Requires three or more directors and one or more shareholders
The company name ends in (PTY) Ltd.
A sole trader is a business that is owned and managed by one person
The partnership does not pay income tax, only the partners in their personal capacities
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an advantage of a sole proprietor business?
The business has its own legal identity
The company and its owners (shareholders) are separate entities
The partnership does not pay income tax, only the partners in their personal capacities
Can make quick decisions without having to consult others
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of a partnership business?
The partnership does not pay income tax, only the partners in their personal capacities
Can obtain tax rebates if they are involved in SCI projects
Decision making can be time consuming as all partners have to be in agreement
The company and its owners (shareholders) are separate entities
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the biggest risk of starting a new business?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a charity?
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