A level Business Ownership

Which of these is not a legal form of business

• A sole trader

• A partnership

• A private limited company

• A public limited partnership

Which statement is true regarding a private limited company (Ltd):

• A small business run by two to twenty person

• Shares are sold on the stock market

• Shares are only sold to family and friends

• Has unlimited liability

Which type of business ownership from the following has unlimited liability? 

• Charity

• Public limited company 

• Private Limited Company

• Sole trader

Which of these are advantages of a private limited company

• limited liability

• shares are sold on the stock market to raise additional finance

• ownership still remains with friends and family

• Relatively easy to set up

What are the disadvantages of operating as a sole trader?

• Unlimited liability

• Long hours, hard work

• Own boss, full control

• Flexible hours

What is a form of business ownership in which 2 or more people jointly owns a business

• Sole Trader

• Social Enterprise

• Partnerships

• Charity

What is the name of a person who owns part of a limited liability company?

• Stakeholder

• Shareholder

• Trust Agent

• Chairman

An advantage of operating as a sole trader...

• Owner receives all profit

• No need to pay tax

• Investment from shareholders

• Cheaper advertising

Business ownership in which 2 or more people share assets, liabilities, and profit is called what?

• Sole Trader

• Partnership

• Public limited company

• Private limted company

A company with limited liability

• Sole Trader

• Partnership

• Public limited company

• Private limited company