Co-operative and Company Types Quiz

What is a Co-operative?

• A business owned by one person

• A business owned and operated by its members

• A business owned by shareholders

• A government-owned organization

In a co-operative, how are voting rights usually distributed?

• Based on the number of shares owned

• One person, one vote

• Based on investment size

• Only the president can vote

What is an advantage of a co-operative?

• Fast decision-making

• Members pool their resources

• It is owned by one person

• It has high profits

What is a private limited company?

• A company with unlimited members

• A company open to the public

• A company with limited membership (2-50 people)

• A government corporation

Who manages a private limited company?

• Its members

• The public

• The government

• A Board of Directors

What is a characteristic of a private limited company?

• Unlimited liability

• Must be registered with the Registrar of Companies

• No formal structure

• Only one member

Which document is required to register a private limited company?

• Article of Association

• Business Plan

• Tax Form

• Profit Statement

What does 'limited liability' mean?

• Owners are responsible for all debts

• Shareholders' losses are limited to their investment

• Limited number of products

• Limited to one country

Which of these is a well-known private limited company?

• McDonald's

• National Commercial Bank

• Unilever

• Jamaican Government Corporation

Who appoints the Executive Director in a public limited company?

• The shareholders

• The Board of Directors

• The general public

• The government