WorksheetsSole trader , partnership, close corporation
Total questions: 16
Worksheet time: 23mins
A partnership is an (a) between two or more people, who combine labour, capital, and resources towards a common goal.
State three (3)disadvantages of a sole trader business
(a)
Which of the following are advantages of a sole trader business?
Personal wealth and asset are associated with the business
Decisions are made easily
Business continuity
Close relationship with customers
What is the name of a person who owns a percentage part of a corporation?
Stakeholder
Shareholder
Trust Agent
Chairman
Which of the following are types of businesses?
Sole Proprietor/Sole Trader and Partnership
Corporation and Non-Profit
Limited Partnership and LLC
All of the above
Sole Trader
Partnership
Corporation
None of the above
Who are the owners of companies?
Shareholders
Owners
Directors
Managers
Louise and Susan are meeting to plan a new advertising campaign for the town newspaper they own. What type of business do they have?
Sole Proprietorship
Partnership
Corporation
What does the close corporation ends in?
CC
(Pty) Ltd
Inc
Limited
A partnership
has up to 50 members
has unlimited liability
has limited liability
pays tax
Upon registration or death of one of the partners, partnership will.
continue.
expand
dissolve
revives
Close corporation is owned by
partners
members
people
managers
A close corporation is a
separate legal entity
limited company
private business
liability
Which of the following are advantages of a sole trader business?
Personal wealth and asset are associated with the business
Decisions are made easily
Business continuity
Close relationship with customers
