WorksheetsOCR 1-9 Business 1.3 - Ownership Structure
Total questions: 12
Worksheet time: 6mins
Name
Class
Date
1.
Disadvantage of a Sole trader:
a)
Expensive to create
b)
Hard to employ people
c)
Doesn't generate much profit
d)
Unlimited liability
2.
An advantage of operating as a sole trader...
a)
Owner receives all profit
b)
No need to pay tax
c)
Investment from shareholders
d)
Cheaper advertising
3.
Business ownership in which 2 or more people share assets, liabilities, and profit
a)
Sole Trader
b)
Partnership
c)
Public limited company
d)
Private limted company
4.
A company with limited liability
a)
Sole Trader
b)
Partnership
c)
Public limited company
d)
Private limited company
5.
An advantage of a partnership...
a)
More profit for the owners
b)
Easier to recruit
c)
Shared responsibilities
d)
Unlimited liability
6.
Why does a company issue shares?
a)
To raise money that can be invested in the business
b)
To make more profit
c)
To get more owners
d)
To allow the business to be sold off
7.
Which of the following is an advantage of a private limited comapany
a)
You can sell shares openly to anybody around the world
b)
You can gain more sales as the business is well known
c)
You can choose your own shareholders that are suitable for the business
d)
They have unlimited liability
8.
Which of the following would be a reason to alter a company's aim and objectives
a)
The business has met their previous aims/objectives
b)
The business has made lots of profit
c)
The business employs a new owner
d)
A new financial year
9.
A public limited company...
a)
Is easier to set up than a private limited company
b)
Needs to have a minimum of 10 shareholders
c)
Has unlimited liability
d)
Must publish all of their accounts to the public
10.
Which of the following is a benefit of operating as a sole trader?
a)
Autonomy
b)
Higher sales
c)
Cheaper costs
d)
Easier to run
11.
What does the term 'Capital' mean?
a)
The money made from sales
b)
The money raised to start or develop a business
c)
The money in the owners savings
d)
The money the business has used to pay for advertising
12.
True or false: If a business has unlimited liability, the owners personal possessions are at risk if the business falls into debt.
a)
True
b)
False
100 %
