F4- EOS-Forms of Business # 2

F4- EOS-Forms of Business # 2

8th - 9th Grade

35 Qs

quiz-placeholder

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F4- EOS-Forms of Business # 2

F4- EOS-Forms of Business # 2

Assessment

Quiz

Business

8th - 9th Grade

Hard

Created by

Annisha Mohammed

Used 2+ times

FREE Resource

35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business with one owner is known as a:

Company

Sole trader

Partnership

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business run by 2-20 people and has unlimited liability is known as a:

Company

Sole trader

Partnership

3.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The two forms of business ownership with unlimited liability are:

Sole trader

Public company

General Partnership

Private company

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Advantages of a sole trader are:

Limited liability

The owner makes all the decisions

The owner takes all the profit

Can raise substantial capital

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Advantages of a partnership are:

The partners split the profit

Unlimited liability

Raise more capital than a sole trader

Share the workload

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most common form of business ownership?

Private Limited Company

Public Limited Company

Sole Proprietorship

Franchise

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following best describes the term limited liability? If the business fails:

Personal possessions of the owner can be taken to pay any debts

The owner is personally liable for all the debts of the business

There is no limit on the amount the owner has to pay to settle debts

The owner only loses the amount invested in the business

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