The best definition of a sole trader form of business organisation is:
Grade 9 - Types of Business Organisations

Quiz
•
Social Studies
•
9th Grade
•
Hard
Edward Prinsloo
Used 324+ times
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the business only employs one person
the business is owned by one person
the firm has a single customer
there is a single firm in the industry
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One of the claimed advantages of a sole trader business is that:
owners have limited liability
shares can be sold to raise capital
decisions and responsibilities can be shared
the owner has complete control
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One of the disadvantages of a sole trader business is that:
capital is limited to owner’s savings and bank loans
decisions take too long to make
as they are government owned there is no profit motive
the owners may disagree
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One of the advantages of a partnership form of business organisation is that:
all partners always have limited liability
shares can be sold on the Stock Exchange
the business survives the death of the partners
the business has access to more capital than a sole trader
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a feature of a private limited company?
Shares can be issued to raise capital
Shares can be bought and sold on the Stock Exchange
All owners of the business have limited liability
The business continues after the death of shareholder
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements best applies to a public limited company (plc)?
It is owned by the government and is in the public sector
It is owned by shareholders who can sell their shares in the Stock Exchange
It is quick and easy to set up with few legal formalities
Its accounts can be kept private and it receives little coverage in the business press
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The main reason why the owners of many private limited companies convert their businesses into public limited companies is because:
they do not want to remain in the private sector
they want to gain the benefits of limited liability
they want to keep the annual accounts secret
they want to raise additional capital to expand the business
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