1) Shares are listed on the stock exchange a) Sole trader b) Partnership c) Ltd d) PLC 2) Joint owners share the profits and the liability a) Sole trader b) Partnership c) Ltd d) PLC 3) Anyone can buy shares in the business a) Sole trader b) Partnership c) Ltd d) PLC 4) The owner has sole control of all decisions  a) Sole trader b) Partnership c) Ltd d) PLC 5) The founder can invite shareholders to buy shares, normally Family and Friends a) Sole trader b) Partnership c) Ltd d) PLC 6) The partners may share skills and expertise a) Sole trader b) Partnership c) Ltd d) PLC 7) Limited liability (TWO answers) a) Sole trader b) Partnership c) Ltd d) PLC 8) Unlimited Liability a) Sole trader b) Partnership c) Ltd d) PLC 9) Complete annual accounts are published for all to see a) Sole trader b) Partnership c) Ltd d) PLC 10) Any profits can be kept by the founder a) Sole trader b) Partnership c) Ltd d) PLC 11) Unlimited liability means a) The owners must pay dividends b) The owner may have to sell personal assets to pay off business debts c) The owner's personal assets are safe and separate from the business 12) One benefit of starting a business as a private limited company a) The entrepreneur may keep all the profits b) The entrepreneur has complete control of the business c) The entrepreneur does not have to share accounts of the business d) The entrepreneur has financial security as personal assets are not at risk 13) A business that can sell shares to raise finance a) A sole trader b) A partnership c) A private limited company 14) Limited Liability Means a) If you owe debts only items froThe business will be taken not your personal possessions b) The owner may have to sell personal assets to pay off business debts c) The owner won't have to pay back any debts 15) A disadvantage of a Sole Trader... a) Business can get taken over b) The Family and Friends may not have much money c) You are responsible for everything so it is a lot of hard work d) The owners may argue 16) A disadvantage of a partnership... a) Business can get taken over b) The Family and Friends may not have much money c) You are responsible for everything so it is a lot of hard work d) The owners may argue 17) A disadvantage of a Private Limited Company... a) Business can get taken over b) The Family and Friends may not have much money c) You are responsible for everything so it is a lot of hard work d) The owners may argue 18) A disadvantage of a Public Limited Company... a) Business can get taken over b) The Family and Friends may not have much money c) You are responsible for everything so it is a lot of hard work d) The owners may argue

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