23/2 Business Forms

Lifestyle businesses aim to:

• Maximize profit and expansion

• Support the owners’ desired way of living

• Create multinational corporations

• Issue shares to the public

The primary goal of a lifestyle business is:

• Large-scale economic growth

• Making a living for the owners without excessive expansion

• Public stock market trading

• Global franchise development

Which of the following is often true about lifestyle businesses?

• They operate as incorporated businesses

• Their primary goal is community service

• They often operate as unincorporated businesses

• They must issue shares to grow

A lifestyle business owner is typically:

• Focused on becoming a multinational corporation

• Primarily interested in maintaining their current lifestyle

• Looking to sell shares on a stock exchange

• Required to follow franchise agreements

Which of the following is NOT a characteristic of a lifestyle business?

• Owners prioritize personal lifestyle over large profits

• Business expansion is a key priority

• It often operates as an unincorporated business

• The business aims to sustain a personal income

Which of the following businesses operates within the public sector?

• Sole trader

• National Health Service (NHS)

• Private limited company

• Franchisee business

A primary characteristic of public sector organizations is:

• They are controlled by private individuals

• They are funded by central or local government

• They trade shares on the stock market

• They have unlimited liability

A key difference between public sector and private sector businesses is:

• Private sector businesses are always funded by the government

• Public sector businesses are funded by taxes and government budgets

• Public sector businesses focus only on making profits

• Private sector businesses provide community services

Which of the following is an example of a not-for-profit organization?

• Private limited company

• Sole trader business

• Housing association

• Public limited company

Public sector organizations often provide:

• Goods and services focused on profit generation

• Goods and services funded by government but may charge for some services

• Stock market investments

• Sole ownership by private individuals