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WorksheetsBusiness Studies Assessment
Total questions: 20
Worksheet time: 15mins
How many economic sectors are there?
0
4
3
Which of these examples is a service?
Mr. Farr sells guitars.
Mr. Swenson gives art supplies to consumers.
Coach provides lessons for different sports.
Ms. Miller writes books.
Which sector does an amusement park belong in?
Primary
Secondary
Tertiary
Quaternary
Quinary
What is the production chain for the diagram?
Cars
Fuel
Lorries
Motorbikes
What stakeholders exist within Lordswood Boys’ School ?
Teachers
Parents
Students
All of them.
Which is a feature of a partnership?
Shares can be sold to family and friends
Income tax must be paid on profit.
The owners have limited liability.
Financial information is sent to Companies House.
An owner of a sole Proprietorship is personality liable for all assets
True
False
A sole proprietorship has to share their profits with a partner
True
False
Unlimited liability means?
The owner is personally liable to cover business debts and any costs the business can not cover
The owner(s) do not have to cover all business costs personally in the case of them being sued or going into debt
A corporation is not responsible for taking care of lawsuits
A sole Proprietorship will have enough money and coverage to pay any and all debts
Who is responsible for the business debt?
Franchisor
Franchise
The Franchisee
Investor
What's a franchisee?
A franchisee is the initial fee paid to the company
A franchisee is a company that owns the service and grants rights to another business.
A franchisee is formed when the franchisee buys a business.
A franchisee is the person buying the right to run a business.
