Legal Entities Quiz

What should learners be able to identify by the end of the session?

• The range of legal entity types that organizations can form.

• The history of legal entities.

• The number of employees in a company.

• The financial status of a business.

What are learners expected to describe about each legal entity type?

• The characteristics and their place in society/industry.

• The color and size of the entity.

• The number of shareholders.

• The annual revenue.

What should learners be able to compare regarding legal entity types?

• The advantages and disadvantages of each legal entity type.

• The number of employees.

• The location of headquarters.

• The marketing strategies.

What should learners discuss about each legal entity type?

• The structure and how they are governed.

• The color of their logo.

• The number of offices worldwide.

• The type of products they sell.

What potential reasons should learners consider for selecting specific legal entity types for business?

• The potential reasons for selecting specific legal entity types for business.

• The number of employees.

• The type of office furniture.

• The color of the company logo.

What is a 'legal entity' in business?

• A type of fruit

• A legal document

• An organization with legal rights and responsibilities

• A type of business meeting

What are the two major types of business entities?

• Sole proprietorship and partnership

• Incorporated and un-incorporated

• Limited and unlimited

• Public and private

What determines a business's status as a legal person in its own right?

• Its size and revenue

• Whether it is incorporated or not

• The number of employees

• Its location

Which of the following is a form of unincorporated organisation?

• Corporation

• Sole trader

• Limited company

• Public company

What is a characteristic of an unincorporated organisation?

• It has a separate legal personality.

• It is protected from creditors.

• It can be sued for debts owed by the organisation.

• It is a type of corporation.