QCE Business Unit 1.1 2025 Legal Structures of Business Quiz
Authored by Melinda Gear
Social Studies
11th Grade
Used 13+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the legal structure of a business owned and operated by one individual?
Partnership
Private company
Sole trader
Public company
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following legal structures provides unlimited liability for its owners?
Sole trader
Private company
Public company
Franchise
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an advantage of a sole trader structure?
Limited liability
Full control over business decisions
Easy access to capital
Shared responsibilities
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key disadvantage of being a sole trader?
Unlimited liability
Limited liability
Profit-sharing
Complex decision-making
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which business structure are profits solely retained by the owner?
Partnership
Sole trader
Public company
Private company
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business run by two or more people where the owners share profits is called a:
Partnership
Sole trader
Private company
Public company
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following business structures has unlimited liability for its owners?
Private company
Partnership
Public company
Limited company
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