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WorksheetsFORMS OF OWNERSHIP (Business Studies)
Total questions: 15
Worksheet time: 8mins
(REM) we have...........forms of ownership
2
4
8
7
Which definition is most suitable for forms of ownership
It is a partnership
It is the contract between parent company and the entrepreneur
The way in which you bring your business into being is known as its form of ownership
It is about all the business
How many members does a sole trader have ?
6
12
1
4
(UND) Definition of a private company
It is a company of one and a maximum of fifty shareholders and is managed by directors appointed by the shareholders.
It is the company owned by the state
It is owned by one person
none of the above
A street vendor is an example of
partnership
Sole trader
Business owner
B and C
Advantages of a close corporation
Slow decision -making process
The founding statement can be changed without restrictions
To protect and inform the public
All of the above
(APP) Joe & Sons (Pty) Ltd is an example of a
Partnership
Private company
Close corporation
Public Company
If you want to have partners ,share your decisions , and share all the profits and losses of the business; you want to form a ...............
Close corporation
Private company
Sole trader
Partnership
(ANA) The most operative form of business organization for raising capital is the .
Partnership
Corporation
Join venture
Proprietorship
The main disadvantage of a partnership is
Disagreement amongst partners
shared management
difficulty of termination
the unlimited liability of the partners
(EVA) Number of shareholders available is limited to the number of shares available
True
False
(EVA) If the company fails , it may lead to large unemployment. Why is it a disadvantage of a public company?
Its name must end with Ltd limited
No limit to number of owners
Has a legal personality
public company creates more job opportunities , so should it fails it may lead to large unemployment
(CRE) How can a person use unlimited liability
To pay auditors
To pay a customer
To pay firms debts or obligations
To pay personal accounts
What do you think will happen if an entrepreneur does not budget properly for his / her business
Personal drawings of the owner will affect the business
The business will not prosper because the expenditures incurred out-way the businesses income
The owner will earn more profit
The businesses turnover will be much higher than expected
looking at south African businesses do you think small businesses are supported enough
yes
no
