In a sole proprietorship, who bears the full responsibility for the business’s debts?
Business Ownership Quiz

Quiz
•
Other
•
12th Grade
•
Medium
Nirmal Nair
Used 3+ times
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Employees
Sole Owner
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes a Limited Partnership (LP)?
All partners have unlimited liability
All partners have limited liability
At least one partner has unlimited liability and the others have limited liability
No partner has liability
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which sector would you typically find charities?
Private sector
Public sector
Non-profit sector
Cooperative sector
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a significant advantage of a Private Limited Company (Ltd)?
Shares can be freely sold on the stock market
Owners have limited liability
It requires no registration with the government
It is owned by the government
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which business ownership type is typically easiest and least expensive to establish?
Sole trader
Limited Company
Public Limited Company
Partnership
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does PLC stand for in the context of business ownership?
Private Limited Company
Public Limited Company
Personal Liability Company
Partnership Limited Company
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business ownership allows for shares to be publicly traded?
Sole trader
Partnership
Limited Company
Public Limited Company (PLC)
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