Business Ownership Quiz

Business Ownership Quiz

12th Grade

12 Qs

quiz-placeholder

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Business Ownership Quiz

Business Ownership Quiz

Assessment

Quiz

Other

12th Grade

Medium

Created by

Nirmal Nair

Used 3+ times

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Shareholders

Employees

Government

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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