Which business structure provides limited liability protection to its owners?

Business Structures and Taxes Quiz

Quiz
•
Education
•
12th Grade
•
Hard
Nilantha Senaratne
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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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