Business Ownership Quiz

What are the three main categories of business ownership?

• Sole Proprietorship, Partnership, Corporation

• Private Ownership, Public Ownership, Not for Profit

• Franchise, Cooperative, Joint Venture

• Limited Liability, Unlimited Liability, Partnership

Which type of business is owned and controlled by one person, although they may employ workers?

• Sole trader

• Partnership

• Private limited company

• Public limited company

What is a business owned by more than one person called?

• Sole trader

• Partnership

• Private limited company

• Public limited company

Which type of business is a larger business able to sell shares on the stock exchange?

• Sole trader

• Partnership

• Private limited company

• Public limited company

What type of business is owned by its shareholders but managed and controlled by directors?

• Sole trader

• Partnership

• Private limited company

• Public limited company

Evie runs a small bakery by herself, although she has a few employees. What is her business called?

• Partnership

• Sole Trader

• Private limited company

• Public limited company

Which type of business is owned by more than one person?

• Sole Trader

• Partnership

• Private limited company

• Public limited company

What is a business called that is owned by its shareholders but managed and run by directors?

• Sole Trader

• Partnership

• Private limited company

• Public limited company

Which type of business is able to sell shares on the stock exchange?

• Sole Trader

• Partnership

• Private limited company

• Public limited company

What is a sole trader?

• A person who works for a company

• A self-employed person who owns and runs their own business

• A person who invests in multiple businesses

• A person who manages a team of employees