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WorksheetsBusiness Revision Quiz
Total questions: 15
Worksheet time: 8mins
What is an entrepreneur?
A businessman
A person who takes risks
A person who owns a successful business
A person who owns a failing business
Which ONE is a entrepreneurs?
Alan Sugar
Stephen K Amos
Sarah Millican
James Corden
What is A business aim?
A small goal for a company
The overall goal of a company
What is the primary sector?
Gets raw materials
makes them into products
sells a service
What is the secondary sector
sells a service
makes into products
gets raw materials
What is the tertiary sector?
gets raw materials
sells a service
makes a product
How many owners does a sole trader business have
1
2-20
anything above 2
How many owners does a partnership have?
anything over 2
1
2-20
What is a disadvantage of being a sole trader?
keep all the money
ends on death
less paperwork
what is limited liability?
you and the business have the same legal identity
you and the business have different legal identities
What is unlimited liability?
you and the business have the same legal identity
you and the business have different legal identities
You own a limited liability company that has gone bankrupt what can you lose as a shareholder?
EVERYTHING!!
Only what you have invested into the company
You are in a partnership, your business partner leaves the business. What do you have to do to keep the business?
Nothing. you have to start a new business
Nothing. You carry on as normal trading in your business
You have to pay there original share in the business
You have to pay there revenue in the business
What is interdependence?
All sectors of the economy work independently
All sectors of the economy work together
One disadvantage of being a partnership?
Share profits
extra help
can split expertise
