Quiz on Public and Private Limited Liability Companies

What does PLC stand for?

• Private Limited Company

• Partnership Limited Company

• Public Limited Liability Company

• Public Limited Company

What is a key feature of a public limited liability company?

• Limited liability for shareholders

• Ownership is restricted to family

• Shares are not publicly traded

• No financial reporting required

What is the minimum share capital for a PLC in the UK?

• £50,000

• £1,000

• £100,000

• £10,000

Which of the following is true about private limited liability companies?

• Ownership is restricted to a small group

• They must have a minimum share capital of £50,000

• They are managed by a board of directors

• Shares can be freely traded

What is one similarity between public and private limited liability companies?

• Both have unlimited liability

• Both are not required to report finances

• Both can be owned by one person

• Both can be sued

What type of ownership does a private limited liability company have?

• Shared ownership

• Government ownership

• Private ownership

• Public ownership

What is a key characteristic of a public limited liability company?

• It does not have to report finances

• Shares cannot be sold

• Shares can be traded on stock exchanges

• Ownership is limited to family members

What does it mean for a company to be a separate legal entity?

• It can own assets and enter contracts

• It has no financial obligations

• It cannot be sued

• It is owned by the government

Which of the following is a requirement for both PLCs and Ltds?

• They do not need to report finances

• They must be legally registered

• They can freely trade shares

• They must have a minimum share capital

What is one of the regulatory requirements for a PLC?

• Must have only one shareholder

• Must include 'PLC' in its name

• No financial reporting needed

• Can have unlimited liability