Year 1 Singles Quiz 1

A business with one owner is a....?

• Private Limited Company

• Partnership

• Public Limited Company

• Sole Trader

A private limited company has unlimited liability. True or False?

• True

• False

A business which extracts raw materials operates in the.......... sector?

• Tertiary

• Secondary

• Primary

A business which sells finished goods or provides a service, operates in which sector?

• Secondary

• Primary

• Tertiary

The emergency services are in the public or private sector?

• Private

• Public

A private limited company sells shares on the stock market. True of False?

• True

• False

This type of business chooses who they sell shares to.

• Community Interest Company

• Public Limited Company

• Private Limited Company

• Charity

The 'Art House Southampton' is an example of a Community Interest Company (CIC)?

• False

• True

A .......... must have a minimum of 2 owners.

Unlimited liability means .......... possessions can be seized to pay business debts.