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Business Ownership Structures

Total questions: 12

Worksheet time: 7mins

Name
Class
Date
1.

The numbers of shareholders in a private limited company

a)

1-99

b)

2-99

c)

1-149

d)

149+

2.

The liability that partners in a partnership have

a)

Unlimited

b)

Limited

c)

Legal

d)

Liquid

3.

Two disadvantages of a sole trader are

a)

Unlimited liability

b)

Limited liability

c)

When the owner dies the business dies

d)

Decisions are made faster

4.

The minimum number of partners in a partnership is

a)

2

b)

10

c)

20

d)

149

5.

The name given to a share of the profits is called

a)

Share capital

b)

Investment

c)

Equity

d)

Dividend

6.

Identify two advantages of a sole trader

a)

Makes all the decisions

b)

Keeps all of the profits

c)

Continues to operate after death

d)

Limited liability

7.

A private limited company's name ends in the letters

a)

plc

b)

Ltd

c)

Co

d)

& Sons

8.

True or false - sole traders are easy to set up

a)

True

b)

False

9.

If the business fails, you will only lose the moeny you've invested in the business. This is called (a)   liability

10.

The owners of a private limited company are called

a)

members

b)

shareholders

c)

customers

d)

partners

11.

A Credit Union is an example of a

a)

Sole Trader

b)

Private Limited Company

c)

Partnership

d)

Cooperative

12.

In this type of business, the number of votes you have depends on the number of shares you own

a)

Sole Trader

b)

Partnership

c)

Private Limited Company

d)

Cooperative