Post Assessment - Grade 8: Forms of Business Ownership

Which of the following best describes a franchise?

• A group of people who share profits equally

• A government-owned business

• A business format where someone operates under a licensed brand

• A temporary business set up for an event

Why might a business choose to form a partnership instead of staying a sole trader?

• To avoid paying taxes

• To share responsibilities and capital

• To get listed on the stock exchange

• To reduce profits

Which form of business ownership is most likely to enjoy limited liability as a strength of the business?

• Sole Traders

• Partnership

• Limited Companies

• Franchise

What does SWOT stand for?

• Strengths, Weaknesses, Options, Threats
• Strengths, Weaknesses, Opportunities, Threats
• Strengths, Weaknesses, Opportunities, Trends
• Strengths, Weaknesses, Opportunities, Tactics

Which of the following is a threat for most businesses?

• Being the owner of the business

• Unlimited liability

• Having a Separate legal identity

• having rivals or competitors