
F4- EOS-Forms of Business # 2
Quiz
•
Business
•
8th - 9th Grade
•
Hard
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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