Business Structures and Taxes Quiz

Business Structures and Taxes Quiz

12th Grade

10 Qs

quiz-placeholder

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Business Structures and Taxes Quiz

Business Structures and Taxes Quiz

Assessment

Quiz

Education

12th Grade

Hard

Created by

Nilantha Senaratne

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which business structure provides limited liability protection to its owners?

Sole proprietorship

Partnership

Limited company

Corporation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What government agency manages company registrations in the UK?

HM Revenue & Customs (HMRC)

Companies House

Department for Business, Energy & Industrial Strategy (BEIS)

Financial Conduct Authority (FCA)

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many shareholders are required to form a private limited company in the UK?

1

2

3

4

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What tax is commonly paid by businesses on their sales in the UK?

Income Tax

Value Added Tax (VAT)

Corporate Tax

Property Tax

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary advantage of registering as a sole trader in the UK?

Limited liability

Easy to form

Access to more capital

Tax advantages

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What document outlines a company's initial shareholders and share capital?

Business plan

Memorandum of association

Articles of association

Financial statement

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which tax is NOT typically paid by businesses in the UK?

Income Tax

Value Added Tax (VAT)

Corporate Tax

Property Tax

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