WorksheetsL2 AAT Business entities recap
Total questions: 10
Worksheet time: 5mins
Fred and Freda run a small business making clothes, they each put £2,000 into the business. They share decisions, profits and debts. What type of business is it?
Sole trader
Private limited company
Charity
Partnership
A limited company needs to prepare financial statements in accordance with the Financial Reporting Standards?
TRUE
FALSE
Owners of a limited company take their profits out in the form of drawings
TRUE
FALSE
A further education college is a (a) type of organisation?
Monitoring the training needs of employees is the function of ...
The marketing department
Human Resources department
Operations department
Finance department
The 'separate entity' concept means that all transactions (business and personal) of a sole trader are included in the financial statements
TRUE
FALSE
Identify TWO advantages of a business operating as a partnership
(a)
Companies are controlled by shareholders and managed by directors
TRUE
FALSE
Dealing with the transport of products overseas is the responsibility of the....
Operations department
Sales and Marketing department
Distribution & logistics department
Finance department
Name ALL 3 components of your End Point Assessment for your L2 AAT Apprenticeship
(a)
