Business Organisation Quiz

What is a sole trader?

• A business owned by one person

• A business owned by two or more people

• A business owned by the government

• A business owned by shareholders

What is unlimited liability?

• Owners are personally liable for all business debts

• Business debts are limited to the amount invested

• Owners are not personally liable for business debts

• Business debts are covered by insurance

What is a partnership?

• A business owned by the government

• A business owned by between 2 and 20 people

• A business owned by one person

• A business owned by shareholders

What is a deed of partnership?

• A document outlining the rules for a sole trader

• A document outlining the rules for a cooperative

• A document outlining the rules for a partnership

• A document outlining the rules for a limited company

What is limited liability?

• Business debts are covered by insurance

• Owners are not personally liable for business debts

• Owners are personally liable for all business debts

• Business debts are limited to the amount invested

What is a private limited company?

• A company with unlimited liability

• A company with shares traded on the stock exchange

• A company with limited liability and not publicly traded

• A company owned by the government

What is a cooperative?

• A business owned by shareholders

• A business owned by the government

• A business owned and controlled by its members

• A business owned by a single individual

What is a state-owned company?

• A company owned by a cooperative

• A company owned by the government

• A company owned by private individuals

• A company owned by shareholders

What is a public limited company?

• A company owned by a single individual

• A company with shares not traded publicly

• A company owned by the government

• A company with shares traded on the stock exchange

What is a strategic alliance?

• An agreement between businesses to cooperate on a project

• A franchise agreement

• A merger between two companies

• A takeover of one company by another