Font size
WorksheetsForms of Business Ownership
Total questions: 15
Worksheet time: 8mins
A sole trader is owned by...
A franchisee
2 or more people
One person
Shareholders
A partnership is owned by...
A franchisee
2 or more people
One person
Shareholders
A Private Limited company is owned by...
A franchisee
2 or more people
One person
Shareholders
A public limited company is owned by...
Shareholders
Two or more owners
One person
A franchisee
What does the word 'private' in Private Limited Company refer to?
The fact that all their finances are private
The fact that shares can only be sold with the consent of other shareholders
The fact that nobody knows about their business
True or False: Shares of a Public Limited Company are sold on the stock market
True
False
True or false: Shares of a Private Limited Company are sold on the stock market
True
False
All decisions are made by one person and that person also keeps all the profit is a feature of which form of business ownership?
Partnership
Sole Trader
Private Limited Company
Franchise
Decision making can be slow because there are often lots of shareholders is a disadvantage to which form of ownership?
Franchise
Public Limited Company
Sole trader
Partnership
Which source of finance is available to Limited Companies but is not available to sole traders or partnerships?
Loans
Sale of shares
Money from friends and family
What does unlimited liability mean?
The shareholders and the business are separate which means that if the business fails, the shareholders personal possessions and assets are protected.
The business and the owner are not separate which means that if the business fails, the owners personal possessions and assets are at risk of being taken to recover debt.
What does limited liability mean?
The shareholders and the business are separate which means that if the business fails, the shareholders personal possessions and assets are protected.
The business and the owner are not separate which means that if the business fails, the owners personal possessions and assets are at risk of being taken to recover debt.
Which 2 of these forms of business ownership carry unlimited liability?
Private Limited Company
Sole Trader
Public Limited Company
Partnership
Which 2 of these forms of business ownership carry limited liability?
Private Limited Company
Sole Trader
Partnership
Public Limited Company
Which type of tax do limited companies pay that sole traders and partnerships do not?
Income tax
VAT
Corporation tax
