WorksheetsBusiness Ownership (9-1 GCSE)
Total questions: 10
Worksheet time: 4mins
A sole proprietor has to share the profits made by the business. True or False?
True
False
Select TWO true statements that relate to a sole trader.
Sole traders have limited liability
Sole traders get to make all their own decisions about the business
Sole traders may find it harder to raise funds for the business
Sole traders usually get more holidays than partners or directors
Why may an entrepreneur prefer to set up a business as a partnership?
The entrepreneur would get to make all the decisions
They entrepreneur would get to keep all the profit
The business would benefit from a greater range of skills and knowledge
The business would make more money quicker
Partnerships are set up by....
One person
Two or more people
Ten or more people
Twenty or more people
Which of the following are types of limited company? (Select 2 answers)
Personal
Private
Public
Premier
A limited company is owned by
Shareholders
Stakeholders
Directors
Employees
A sole trader is responsible for all the debts of the business. True or False?
True
False
What type of ownership could a franchise have?
Sole trader
Partnership
Ltd. Company
All of the above
A franchisee can choose to sell products not supplied by the franchisor. True or False?
True
False
Which of the following is an advantage of operating as a franchise?
You can choose your own location
You can sell whatever you want
You have an established brand name
You do not have to pay for staff training
