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WorksheetsBusiness
Total questions: 20
Worksheet time: 11mins
Another name a Sole Trader called
Onenie Frock
Higgler
Sole Proprietorship
Days worker
Which one of these is not a type of Business Ownership?
Hustling, Gambling, Scamming and fraud.
Telemarketing, Data Entry, Information Systems and Customer Service.
Sole Trader/ Sole Proprietorship, Partnership, Private Limited Companies and Public Limited Companies.
Hockey, Cricket, Swimming and
telecommunications
Examples of a Sole Trader are
Sweetie Vendor, Farmer, Barber, Hairdresser
Housewife, Nurse, Bank Teller, Messenger
Dunn and Cox Law Firm, Woolworth, Digicel and Freezone Garmex
Bank Overdraft, IMF, NCB and Clarendon People's Cooperative Bank
People who own shares in a company are called.
Shareholders
Tax Collectors
Stakeholders
Directors
A consumer is a person who
A car dealer that purchases products from overseas and sells them to locals
Exchange of a good for another to satisfy his or her wants and desire
A purchaser of goods or services for the personal satisfaction of themselves or other members of their households
An agreement to swap as in exchange for a second hand good or product
Examples of Government departments in Jamaica are
Accountant General Department and NIS Office
Taxpayer Audit of Jamaica and VMBS
National Housing Trust and Jamaica Fire Brigade
Bank of Jamaica and Myers Fletcher and Gordon Law Firm
What is a Certificate of Incorporation?
This is the legal document that gives the company the right to go into operation
This list the directors of the Company
It is a brief description on the name of the partner, address, the amount of shares brought in the business
Given the date of incorporation after a fee is paid and have proof of unlimited liability
Membership is a minimum of 2 and no maximum shareholders is a characteristic of a
Public Company
Public Limited Liability Company
Private Limited Company
Limited and Unlimited Liability of the business
List the three documents used in the formation of a company
1. The Memorandum of Association
2. The Articles of Association
3. The Certification of incorporation
1. Bank Overdraft
2. Unlimited Liability
3. Deed
1.Application for name search
2. Articles of incorporation
3.Notice of directors
1.Dividend
2.Limited Liability
3.Shareholders
Define Partnership.
Group of persons coming together to make a profit.
This is the association of 2 to 20 persons operating a business for the common goal of making a profit.
One person operates a business legally to make profits.
Maximum of 20 persons come together by law to form a business and the aim is to make a profit.
Which business type allows membership to be fall between 2 to 50 persons?
Private limited companies
Co-operative
The minimum number of shareholders allowed in a public limited company is:
20 shareholders
7 shareholders
Which of the following type of business is owned and operated by one person?
Sole trader
Cooperative
One feature of a public limited company is:
Shares are sold to existing members
Shares are sold on the stock market
Limited Liability means?
A firm is unlikely to go bankrupt
Shareholders cannot be asked to pay for the company debts
Which is not a type of business ownership in the private sector?
A Partnership
The National Health Service
Which type of business ownership is operated by board of directors?
Private limited company
Public limited company
In which form of business, there is no need to share profits?
Company
Sole trader
A sole trader has a limit in which of the following ability?
Ownership
Workers
Companies are most suited for?
Small scale businesses
Large scale businesses
