Business Organisations

Sole Traders are a group of people who set up, own and manage a business.

• True

• False

Which of these is an advantage of being a sole trader?

• Unlimited Liability

• Confidentiality of Accounts

• Lack of capital

• Stress

Which of these is a disadvantage of being a sole trader?

• No continuity of existence

• Keeps all profits

• Easy to set up

• All of the above

A partnership has how many partners?

• 2-40

• 1-129

• 2-20

• 2-200

Which of these is a disadvantage of a Partnership?

• Easy to set up

• More capital

• More skills and expertise

• Unlimited liability

Which of these is an advantage of a Partnership?

• Easy to set up

• More capital

• More skills and expertise

• All of the above

Private limited company has 1 - 129 owners.

• True

• False

Private Limited Company has...

• 1-129

• 1-149

• 1-30

• none of the above

Having more shareholders means..

• More captial

• Workload is shared

• More experience

• All of the above

When setting up a Private limited Company a disadvantage is...

• Complicated to set up

• Lack of confidentiality

• Legal Requirements

• All of the above