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8th Grade

23 Qs

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Assessment

Quiz

Business

8th Grade

Practice Problem

Hard

Created by

John Cubile

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23 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a characteristic of a sole proprietor business?

Unlimited liability

Jointly liable for legal/financial/ethical problems

Requires three or more directors

The company name ends in (PTY) Ltd.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a disadvantage of a private company?

Easy to raise funds for growth through the sale of shares

The name ends with Ltd.

The company and its owners (shareholders) are separate entities

If the company fails to attract financially strong shareholders, it may hamper its growth opportunities

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a characteristic of a public company?

Requires three or more directors and one or more shareholders

The company name ends in (PTY) Ltd.

A sole trader is a business that is owned and managed by one person

The partnership does not pay income tax, only the partners in their personal capacities

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an advantage of a sole proprietor business?

The business has its own legal identity

The company and its owners (shareholders) are separate entities

The partnership does not pay income tax, only the partners in their personal capacities

Can make quick decisions without having to consult others

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a disadvantage of a partnership business?

The partnership does not pay income tax, only the partners in their personal capacities

Can obtain tax rebates if they are involved in SCI projects

Decision making can be time consuming as all partners have to be in agreement

The company and its owners (shareholders) are separate entities

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the biggest risk of starting a new business?

Losing Money
Making Money
Being Successful
Failing

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a charity?

A business who makes profit
A business who aims to help others
An online business
A service

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