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Forms of ownership

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

What is the minimum amount of partners a partnership can have?

a)

1

b)

2

c)

10

d)

20

2.

Which form of ownership ends with Ltd?

a)

Closed corporation

b)

Private company

c)

Public company

d)

State owned company

3.

Which form of ownership doesn't have limited liability?

a)

Closed corporation

b)

Private company

c)

Public company

d)

Partnership

4.

Which form of ownership is not seen as a legal entity?

a)

Closed corporation

b)

Private company

c)

Public company

d)

Sole trader

5.

Which form of ownership can sell shares to the general public?

a)

Closed corporation

b)

Private company

c)

Public company

d)

Sole trader

6.

Keeping all profits of the business can be an advantage of which form of business?

a)

Closed corporation

b)

Private company

c)

Partnership

d)

Sole trader

7.

If a one of the partners decide to leave, retire what happens?

a)

It will continue

b)

It will close down

c)

Nothing will change

d)

A company must be formed

8.

What is the minimum amount of directors a private company can have?

a)

1

b)

2

c)

10

d)

20

9.

Who manage companies?

a)

Shareholders

b)

Owners

c)

Directors

d)

Managers

10.

Who are the owners of companies?

a)

Shareholders

b)

Owners

c)

Directors

d)

Managers

11.

Select the correct form of ownership for the business below:

Hair by Paige

a)

Sole trader

b)

Partnership

c)

Closed corporation

d)

Public company

e)

Private company

12.

Select the correct form of ownership for the business below:

Mpumi and Kobe Accountants

a)

Sole trader

b)

Partnership

c)

Closed corporation

d)

Public company

e)

Private company

13.

Select the correct form of ownership for the business below:

Jemma HR CC

a)

Sole trader

b)

Partnership

c)

Closed corporation

d)

Public company

e)

Private company

14.

Select the correct form of ownership for the business below:

Of the Walk way Ltd

a)

Sole trader

b)

Partnership

c)

Closed corporation

d)

Public company

e)

Private company

15.

Select the correct form of ownership for the business below:

Ethan Consulting Pty Ltd

a)

Sole trader

b)

Partnership

c)

Closed corporation

d)

Public company

e)

Private company