Local Business Identification and Research
Authored by grace gregson
Business
9th Grade
Used 2+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Which of the following is an example of a business that can be a sole trader?
Law firm
Freelance graphic designer
Public limited company
Partnership
Non-profit organization
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Which of the following is a main feature of being a sole trader?
Limited liability
Shared decision-making
Unlimited liability
Corporate tax rates
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What liability do sole traders have?
Limited liability
Unlimited liability
No liability
Joint liability
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What sources of finance are available to sole traders?
Bank loans
Personal savings
Venture capital
Government grants
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Which of the following is NOT a skill or attribute you would look for in a business partner?
Trustworthiness
Poor communication
Financial acumen
Problem-solving ability
Shared vision
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What difficulties could there be in going into partnership with a friend?
Loss of friendship due to business disagreements
Increased trust and understanding
Guaranteed business success
No challenges at all
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Which of the following types of businesses can be a partnership?
Sole proprietorship
Corporation
Limited liability company
Law firm
Accounting firm
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