Types of Organisation

Fill in the blank: A _______ is a type of organisation that is larger than a small organisation but smaller than a large organisation.

• medium-sized organisation

• small organisation

• large organisation

• non-profit organisation

A _______ is a type of organisation that involves a single individual running the business.

• sole proprietorship

• partnership

• corporation

• limited liability company

Fill in the blank: A _______ is a type of organisation where two or more individuals manage and operate the business.

• partnership

• corporation

• sole proprietorship

• non-profit

A _______ is a type of organisation that is the largest in size.

• Corporation

• Partnership

• Sole Proprietorship

• Non-profit

Fill in the blank: A _______ is a type of organisation that is legally separate from its owners and has limited liability.

• company

• partnership

• sole proprietorship

• cooperative

A sole trader is responsible for:

• Managing the business alone

• Sharing responsibilities with partners

• Being a shareholder

• None of the above

Which of the following is a task handled by a sole trader?

• Quoting jobs

• Managing a team

• Conducting market research

• Developing software

Which task involves preparing financial documents for a sole trader?

• Arranging jobs

• Issuing the invoices

• Organising materials

• Completing the jobs

One advantage of being a sole trader is:

• Unlimited liability

• Shared decision making

• Complete control over business decisions

• Complex tax filing

Which of the following tasks is NOT typically handled by a sole trader?

• Filling in the paperwork

• Keeping the accounts

• Hiring employees

• Completing the jobs