NEW
Font size
Worksheetsbusinesss
Total questions: 18
Worksheet time: 6mins
What is a business?
An organisation that exists to provide goods and services
An organisation that makes profit
A big shop
How many people can be involved in a partnership?
2-10
2-15
2-5
2-20
What are the owners of private and public limited companies called?
Stakeholders
Managers
Board of directors
Shareholders
Which of the following is a drawback for an entrepreneur setting up a business as a sole trader?
Profit is shared
Financial accounts are kept private
Limited liability
Unlimited liability
Which of the following types of business can advertise shares for sale to the general public?
Sole trader
Partnership
Private limited company
Public limited company
A private limited company may change into a public limited company because it wants:
Limited liability
To raise additional finance
Unlimited liability
To avoid takeover
Which of the following is a disadvantage of being a private limited company?
It has a separate legal identity and therefore continuity
Control is kept over who buys shares in the company
Shareholders’ personal possessions cannot be taken to pay any debts
A summary of the business’s accounts can be viewed by the public
Which of the following is a disadvantage of being a public limited company?
The business is at risk of takeover
Large sums of money can be raised
Unlimited liability
Limited liability
What is a consumer
A person who purchases goods and services for personal use.
A person who buys food products
Satan
Another word for a CEO
