Business Structure
Quiz
•
English
•
12th Grade
•
Practice Problem
•
Hard
+13
Standards-aligned
Sarah Williams
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15 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A business structure involving two or more individuals is called a __________.
Corporation tax
Sole trader
Limited Liability Partnership (LLP)
Partnership
Answer explanation
A business structure involving two or more individuals is called a Partnership because it involves a legal agreement between partners to run a business together.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
An LLP must be legally registered with Companies House.
TRUE
FALSE
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The __________ is responsible for managing the day-to-day operations of a limited company.
Managing director
Shareholders
Partners
Registered address
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a sole trader?
A business owned by two or more people
B) A business owned and operated by one person
C) A large corporation
D) A non-profit organization
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a major advantage of being a sole trader?
Unlimited liability
Complete control over the business
Easy to raise capital
Shared responsibilities
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which business structure is characterized by limited liability for its owners?
Sole trader
Partnership
Company
Cooperative
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which business structure allows for the easiest transfer of ownership?
Sole trader
Partnership
Company
Cooperative
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