Business Ownership

Business Ownership

11th Grade

9 Qs

quiz-placeholder

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BM: 2-1 Types of Business Ownership

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Business Ownership

Business Ownership

Assessment

Quiz

Business

11th Grade

Medium

Created by

Mrs Morel

Used 23+ times

FREE Resource

9 questions

Show all answers

1.

CLASSIFICATION QUESTION

3 mins • 1 pt

Private Limited Companies - Advantages & Disadvantages

Groups:

(a) Advantages

,

(b) Disadvantages

Sale of share is restricted - limits amount of capital that can be raised

Financial info available to public

Limited liability

More complex to set up - must register with Companies House

Banks often more prepared to lend money

Shareholders may expect a dividend - can cause conflict

No chance of takeover without shareholder agreement

2.

CLASSIFICATION QUESTION

3 mins • 1 pt

Public Limited Companies - Advantages & Disadvantages

Groups:

(a) Advantages

,

(b) Disadvantages

Enhanced public profile and brand recognition

More complex & expensive to set up - must have £50,000 shares as a minimum

Banks often more prepared to lend money

Risk of dilution of ownership

No control over who buys shares - risk of hostile takeover

Limited liability

As shares can be sold to the public, more capital can be raised

Financial info available to public

Pressure to improve profits

Opportunity for employees to own shares - can increase motivation

3.

MATCH QUESTION

1 min • 5 pts

Match the following

unlimited liability

the responsibility for the debts of a business rests with the owners

capital

the money raised to start or develop a business

shareholders

the responsibility for the debts of a business is limited to the amount invested by a shareholder

dividend

the money paid to a shareholder from the profits of a limited company

limited liability

the owners of a private or public limited company

4.

DROPDOWN QUESTION

1 min • 1 pt

Limited liability is where the responsibility for ​ (a)   of a business is limited to the amount invested by a ​ (b)   . This is a feature of private and ​ (c)   ​ limited companies. ​ (d)   liability is where all responsibility for the debts of a business rests with the ​ (e)   of the business. A feature of sole traders and partnerships.

debts
shareholder
public
Unlimited
owners
stakeholder
depts
partners

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A sole trader can:

only employ one person

employ as many people as the owner wishes

only employ workers where other workers agree

not employ workers because it is a sole trader working on their own

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

A partnership has:

a maximum of 20 partners

a maximum of 2 partners

a minimum of 20 partners

a minimum of 2 partners

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

A private limited company:

is easier to set up than a plc

is just as difficult to set up as a plc

always has one main shareholder

can sell shares to anyone with the agreement of the main shareholder

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A public limited company:

must have a minimum of £500,000 share capital

must have a minimum of £50,000 share capital

must have a maximum of £50,000 share capital

has no minimum share capital

9.

DROPDOWN QUESTION

1 min • 5 pts

​ (a)   ​ have one owner, are very easy to set up and can make ​ (b)   quickly because there is only one owner. Like partnerships, sole traders have ​ (c)   liability, which means they are personally responsible for all of the ​ (d)   of a business. A partnership would normally have a ​ deed of partnership which sets out the duties of the partners and the amount of ​ (e)   ​ they put into the business.

decisions
unlimited
debts
limited
capital
shares
Sole traders
partnerships
profits