Orientation day Quiz

A public limited company must be listed on the London Stock Exchange.

• True

• False

Which business structure is the most common in the UK?

• Partnership

• LLP

• Public Limited Company

• Sole Trader

True or False: A limited company is not legally separate from its owners.

• True

• False

In a limited partnership (LP), which statement is true about the limited partner?

• Can manage the business and has full control

• Shares unlimited liability

• Cannot manage the business and has limited liability

• Must also be a general partner

Which type of organisation is designed to benefit the community and not make a profit?

• Private Limited Company

• Not-for-Profit Organisation

• Sole Trader

• LLP

LLPs protect the personal assets of their partners.

• True

• False

Which of the following is a feature of a Public Limited Company (PLC)?

• Must remain private at all times

• Shares can be traded publicly

• Owned by a single person

• No financial reporting requirements

General partnerships provide limited liability protection to all partners.

• True

• False

Who keeps all the profits in a sole trader business?

• The employees

• The government

• The shareholders

• The owner

Charities are part of the private sector.

• True

• False