Ch 1 - Types of Business Units
Authored by Lai Chan Tang
Business
9th Grade
Used 3+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
This business form may have one but less than 50 owners.
Sole Proprietorship
Limited liability partnership
Private Limited Company
Partnership
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following has unlimited liability?
Sole Proprietorship
Limited Liability Partnership
Private Limited Company
Limited Company
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which business form is most accessible to funds for the business?
Sole Proprietorship
Limited Liability Company
Private Liability Company
None of the above
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
When the business incurs debts and losses, the __________ is / are obliged to pay them using his / their personal assets.
Sole trader
partners
shareholders
customer
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
One disadvantage of this business form is that it has many statutory requirements and is difficult to set up.
Limited Liability Partnership
Private Limited Company
Sole Proprietorship
Small business
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
To transfer ownership, all the owners must agree before transfer can be done.
Limited Company
Private Limited Company
Limited Liability
Partnership
Sole Trader
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The owners have no control over the business unless they are part of the management team.
Limited Liability Partnership
Sole Proprietorship
Partnership
Limited liability company
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