WorksheetsYear 8 Business Ownership - Pop Quiz
Total questions: 15
Worksheet time: 8mins
Owned and operated by one person.
Partnership
Private Company
Sole Trader
Pubilc Company
Unlimited Liability is when
Shareholders in the company will only lose the money they have invested.
The owner has to pay off all the debts of the business. To the extent that their private assets may be sold to cover the businesses debts.
The amount of money the owner invests into the business.
Capital is defined as
The amount of money/assets the owner invests into the business
The first letter of a sentence
The money the owner withdraws from the business
Partners have unlimited liability for the debts of their business.
False
True
The owners agree on how they will divide profits/losses and work load.
Sole Trader
Private Company
Partnership
Public Company
The shareholders of this type of business ownership (often family members) can be employed by the company.
Public Company
Partnership
Private Company
One of the costs of being a sole trader is...
Retains all profit
Long hours of work
Easy to establish
Low start up costs
Can a private company can sell shares on the ASX?
Yes
No
Number of people allowed in a partnership business structure are...
2
2-10
1-3
2-20
The business can sell shares to the public to raise more capital.
Public Company
Sole Trader
Partnership
Private Company
Huntly's Hat PTY LTD is a..
Public Company
Private Company
Subway is an example of a....
Private Company
Public Company
Franchise
Sole Trader
Which of the following are benefits of buying a 'franchise'?
Provides access to outlet design, equipment, operating systems and procedures, and financial systems
As a franchisee, you own the business for yourself but not by yourself
Provides association with established brand, reputation, product or service
Costly to purchase
A franchisee is the person who....
Creates the original business idea and model.
Buys the franchise from the original owner and operates it in their own town.
A cooperative is...
A company that sell shares on the ASX
Community enterprise owned and controlled by a number of people who have combined for a particular purpose
A company that has a limited number of shareholders
A person working alone.
