BUSINESS ORGANISATION (Sole proprietorship and partnership)

Name of school?

    Which of the following is a type of business organization?

• Stock exchange

• Insurance company

• Chain stores

• Co-operative

One advantage of the Sole Proprietorship over other forms of business organizations is that it can _______

• Make very high profits

• Employ many workers

• Produce on a very large scale

• Keep its affairs private

  One advantage of the sole proprietorship is that ______

• Funds are easy to obtain

• It is always successful

• Control and supervision is under one man

• Accounts must be publicized

     Which business organization enjoys tax-free profits in West Africa?

• Private limited liability

• Co-operative societies

• Joint stock companies

• Partnership

  One main benefit of partnership is ____________

• The possibility of raising funds on the stock exchange

• The possibility of attracting twenty-one or more members

• That members can specialize in various functions

• That it enjoys its own seperates legal entity

One advantage of a sole proprietorship is that

• it can be managed without conflicts

• the sole proprietor raises money from the public

• it makes an increase in the volume of business possible

• there is no limit to the number of people who may bring in capital

   Which of the following is not a feature of the sole proprietorship?

• The sole proprietorship provides the capital to start the business

• The sole proprietor is the boss of his business

• Continuity is doubtfully at the death of the proprietor

• Decision can be taken only by 10 people

   One of the advantages of a sole proprietorship is that _________

• Risks are unlimited

• Technologies progress is often out of reach

• It folds up in the case of the death, lunacy or insolvency

• Initiative can be used in all cases

  One important feature of sole proprietorship is that _______

• It is a limited liability business

• The business is owned by shareholders

• One person bears all the risks

• It a legal entity