Pearson IGCSE Business - 1.2.1 Business Ownership

What is a sole trader?

• a) A business owned by multiple individuals
• b) A business owned by the government
• c) A business owned by a single individual
• d) A business owned by shareholders

What is a partnership?

• a) A business owned by multiple individuals
• b) A business owned by the government
• c) A business owned by a single individual
• d) A business owned by shareholders

What is a limited company?

• a) A business owned by multiple individuals
• b) A business owned by the government
• c) A business owned by a single individual
• d) A business owned by shareholders

What is a public corporation?

• a) A business owned by multiple individuals
• b) A business owned by the government
• c) A business owned by a single individual
• d) A business owned by shareholders

What type of business ownership involves a single individual owning and operating the business?

• a) Sole trader
• b) Partnership
• c) Limited company
• d) Public corporation

What type of business ownership involves multiple individuals owning and operating the business together?

• a) Sole trader
• b) Partnership
• c) Limited company
• d) Public corporation

What type of business ownership involves ownership by shareholders who have limited liability?

• a) Sole trader
• b) Partnership
• c) Limited company
• d) Public corporation

What type of business ownership is owned and controlled by the government?

• a) Sole trader
• b) Partnership
• c) Limited company
• d) Public corporation

What is a characteristic of a sole trader business?

• a) Limited liability
• b) Shared ownership
• c) Unlimited liability
• d) Government ownership

What is a characteristic of a partnership business?

• a) Limited liability
• b) Shared ownership
• c) Unlimited liability
• d) Government ownership