Unit 3 AOS 1- Business Foundations

Which of the following is NOT a type of business?

• Sole traders

• Partnerships

• Non-profit organizations

• Government business enterprises (GBE)

What type of business is characterized by being owned and operated by one individual?

• Partnerships

• Private limited companies

• Sole traders

• Social enterprises

Which type of business is typically owned by shareholders and has its shares traded on a stock exchange?

• Private limited companies

• Social enterprises

• Government business enterprises (GBE)

• Public listed companies

What type of business is primarily focused on social objectives and reinvests its profits back into the community or the business itself?

• Sole traders

• Social enterprises

• Partnerships

• Government business enterprises (GBE)

Which of the following is NOT a type of business?

• Sole Traders

• Partnerships

• Private Limited Companies

• Non-Profit Organizations

What type of business is owned by one person?

• Government Business Enterprises

• Social Enterprises

• Sole Traders

• Public Listed Companies

Which type of business is typically owned by shareholders and has shares that are not publicly traded?

• Partnerships

• Public Listed Companies

• Social Enterprises

• Private Limited Companies

What type of business is usually formed to serve a social or environmental purpose?

• Sole Traders

• Government Business Enterprises

• Social Enterprises

• Partnerships

What is a Sole Trader?

• A type of partnership where profits are shared equally

• An individual owner of a business, entitled to keep all profits after tax but liable for all losses

• A corporation with limited liability for its shareholders

• A non-profit organization that operates for the benefit of the general public

What often happens to businesses that start as sole traders?

• They dissolve after a short period of operation

• They remain sole traders indefinitely

• They progress to other forms of business structure

• They become government-owned entities