Types of Business Ownership Quiz
Authored by L Phee
Business
3rd Grade
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a sole trader?
A business owned and controlled by one person
A business owned by two or more people
A business owned by shareholders
A business that offers shares to the public
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What percentage of the total private sector business population in the UK were sole traders in 2019?
82%
75%
59%
45%
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a benefit of being a sole trader?
High startup costs
Shared decision making
Easy to set up
Unlimited liability
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key disadvantage of being a sole trader?
Unlimited liability
Shared expertise
High borrowing power
Limited liability
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a partnership?
A business owned by one person
A business owned by shareholders
A business owned by two or more people
A business that offers shares to the public
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key legal document in a partnership?
Employment contract
Shareholder agreement
Partnership agreement
Franchise agreement
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a private limited company?
A business owned by shareholders
A business that offers shares to the public
A business owned by two or more people
A business owned by one person
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