RTS_BES Unit 1

Which of the following is NOT a category for business objectives?

• Society

• Employees

• Owner

• Community

The owner of a business needs profit for...

• company's existence

• company's expansion

• company's diversification

• all of the above

A share in profits can be given to employees in the form of ...

• Welfare benefits

• Surveys

• Longer working hours

• Praises

Business should ensure _________ to satisfy

the wants and needs fo the people.

• social media management

• smooth supply of goods

• selling cheap products

• setting business objectives

1)    Which one of the following structures is the oldest and most common form of business ownership?

• Partnerships

• Local Company

• Sole Proprietorships

• Franchise

In sole proprietorship, there is legal distinction between the owner's personal property and his/her business assets. True or False?

• True

• False

In General partnership of a business, each partner

assumes _____ for the partnership's debt.

• minimal risk

• reasonably calculated risk

• limited liability risk

• unlimited liability risk

Who has full management liability in running the day to day operations of the business?

• general partner

• limited partner

• both general and limited partners

• senior employee

A private limited company has no more than ___ shareholders.

• 5

• 10

• 20

• 50

In a private limited company, the shareholders' liability

is limited to the amount of their _________.

• paid-up capital

• profits

• commitment in managing company

• expenses