WorksheetsForms of ownership
Total questions: 10
Worksheet time: 5mins
A sole trader is ...
Business owned by 2-20 partners.
owned and managed by one partner.
1-10 members
Limited liability
A close corporation is a..
Unlimited liability
Liability
Juristic person
Company
Unlimited liability
The owner is not liable of the debts of the business
The owner is semi liable for the debts of the business
The owner is liable for the debts of the business.
Non of the above
Which form of owner that is no longer being registered
Registrar of companies
Private company
State owned Company
Non of the above
Difference between a private company and a personal liability company.
Limited liability both
Personal liability company ends with SOC and Private ends with pty
They have an unlimited liability
Private company ends with PTY(LTD) while personal liability ends with INC
Difference between a private company and a public company.
Private company sells shares to the public and the public company does not .
The public pays tax and the public company does not
The private company does not sell shares to the public and the the public sells shares to the public
They both does not have continuity
Factors to consider when making a decision of choosing a form of ownership
The type of business
Needs of the owner
The needs of the business
All of the above
.........Is a taxation factor that contributes to the failure of a public company.
Public company
Private company
Shareholders pay secondary tax so they need enough profit to make their investment worthwhile.
All of the above
Non of the above
The owners of a Close Corporation are called
Partners
Directors
Members
Shareholders
MOI in full .....
Memorandum of Corporation
Memorandum of company
INC
non of the above
All of the above
