Week 2 Finding out about a business

A sole trader is a business which...

• is owned by a single person who has unlimited liability
• is owned by multiple people who share equal liability
• is owned by a single person who has limited liability
• is owned by shareholders with unlimited liability

A Partnership is a business which....

• Is owned by one person
• Is owned by a corporation
• Is owned by two or more persons
• Is owned by a government

Ltd stands for...

• Public Limited company

• Private Limited Company

PLC Stands for

• Partner Limited corporation

• Private Limited Corporation

• Public Limited Company

• Public Limited Corporation

Who owns and controls a Cooperative?

• Its members

• Its Shareholders

• The Founder

• The Government

What is the purpose of a non profit?

• To maximise shareholder value

• To generate profit for the owners
• To distribute dividends to stakeholders
• To serve a public or mutual benefit rather than to pursue profit

Which of these is a Primary Industry business?

• Banking
• Retail
• Farming
• Software Development

Which of these is a secondary industry business?

• Farming
• Fishing
• Car Manufacturing
• Retail

Which of these is a tertiary industry business?

• Farming
• Mining
• Manufacturing
• Banking

Which of these is a quaternary industry business?

• Farming
• Manufacturing
• Mining
• Information Services