Business Organisation

A _______ is an entity that engages itself in economic activities seeking to make a profit through individuals working towards a common goal.

• business

• government

• public corporation

An establishment intended to carry commercial business by producing goods or services and meet the customers’ needs is called as a business organisation.

• True

• False

Limited companies are of _______ types.

• one

• two

• three

_____ is an example of public sector.

• Fasmugoo

• BAEC

• Friend me

_______ is the part of the economy which is not under the direct control of a country’s government.

• Private sector

• Public sector

• Government

_______ comes under private sector.

• Public corporation

• Charity

• Sole trader

This type of business is owned and managed by a single person.

• Partnership

• Sole trader

• Limited Company

Partnership is formed by two or more people _____ profit and losses.

• sharing

• combining

• deciding

Limited companies have _____ meaning that the owners are only liable to an amount not exceeding the amount invested in the company.

• unlimited liabilities

• limited liabilities

• liabilities

McDonalds is an example of ________.

• Partnership

• Joint Venture

• Franchise