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WorksheetsLegal Entities
Total questions: 10
Worksheet time: 14mins
Identify the Unincorporated business organisations. (There is more than one answer)
Sole Trader
Limited Company
Limited Partnership
Limited Liability Partnership
There are 3 types of partnerships: Limited partnership, Limited Liability Partnership and what other type of partnership?
(a)
Which ONE of the following is the minimal value of issued shares a limited company must have to become a public limited company?
£5000
£50,000
£8000
£80,000
Which ONE of the following is the government act that introduced community interest companies (CICs) in the UK?
a. Companies Act 2016
a. Companies Act 1986
a. Companies Act 2006
a. Companies Act 1956
What is the minimum percentage of profit a community interest company must state in its asset lock?
(a)
Explain the main benefit of starting an incorporated business organisation.
Explain ONE advantage of being a sole trader.
What is a multi-national corporation?
A company that sells to more than one country
A company that operates in more than one country.
A company that imports from more than one country
Provide one major difference between a Private Limited Company (LTD) and a Public Limited Company (PLC).
How many members can a cooperative be limited to?
100
500
300
No limits
