Unit 1 Exploring Business Intro Quiz

Which type of business ownership is most likely to reinvest profits into the organization to further its mission?

• Private

• Public

• Not-for-profit

• Cooperative

Which type of private business is owned and operated by a group of individuals for their mutual benefit?

• Sole trader

• Partnership

• Cooperative

• Private limited company

Which type of private business is often formed to provide a service to its members?

• Sole trader

• Partnership

• Cooperative

• Private limited company

Which type of business ownership is typically funded by donations and grants?

• Private

• Public

• Not-for-profit

• Cooperative

Which type of business is typically owned by shareholders and aims to maximize profits for them?

• Sole trader

• Partnership

• Public limited company

• Cooperative

Which type of business ownership is characterized by limited liability for its owners?

• Sole trader

• Partnership

• Private limited company

• Cooperative

Which type of business is most likely to be managed by a board of directors elected by its members?

• Sole trader

• Partnership

• Cooperative

• Private limited company

Which type of business ownership is most likely to have its shares traded on a stock exchange?

• Sole trader

• Partnership

• Public limited company

• Cooperative

Which type of business ownership is typically characterized by a single individual responsible for all decisions and liabilities?

• Sole trader

• Partnership

• Private limited company

• Cooperative

Which type of business is typically formed by professionals such as lawyers or accountants to share profits and liabilities?

• Sole trader

• Partnership

• Cooperative

• Private limited company