Business Ownership

What type of liability does a partnership have?

• Limited

• Unlimited

• Private

What is a public limited company often abbreviated as?

• Ltd

• LLP

• Plc

Which business has limited liability?

• Public Limited Company

• Partnerships

• Franchise

How many owners does a sole trader have?

• 1

• 2

• Any amount

Which of these businesses is in the third/voluntary sector?

• Sole trader

• Partnership

• Social Enterprise

Which business sells the license for trading under its brand name

• Private Limited Company

• Public Limited Company

• Franchise

Which of these is a drawback of being in an Ltd?

• There are more ideas in the business

• The owners have to give away a share of the business profits

• There is unlimited liability

Which of these is an advantage to being a sole trader?

• Being your own boss

• Being personally responsible for all business debts

• Sharing profits

What are owners also known as in a private or public limited company?

• Shareholders

• Stakeholders

• Owners

How is a charity such as Oxfam funded?

• Donations

• Bank Loan

• Overdraft