Business structures

What's the simplest and most common type of business?

• Partnerships

• Sole traders

• Limited companies

• Cooperatives

The sole trader has...

• Limited liability

• Unlimited liability

• Limited profit

• Unlimited debts

Partnerships can be:

• unlimited (or ordinary) and limited

• unlimited and limited (or ordinary)

• ordinary and extraordinary

• all of the above

Find a synonym of "liability":

What's a contrary for "profit"?

Plumber, baker and hairdresser are examples of...

• ... cooperatives

• ... franchising

• sole traders

• ...limited companies

Limited companies have a separate legal identity.

• True

• False

What's the acronym for "private limited companies"?

• LTD

• PLC

What's the acronym for "public limited companies"?

• LTD

• PLC

In which type of company do the partners only invest capital in the company?

• Unlimited partnerships

• Limited partnerships

• in both unlimited and limited partnerships