Characteristics of Three Main Forms of Bus. Strut.,BIZ ENV.WK 1

What is the size of a Sole Trader business?

• Small

• Medium

• Large

What is the establishment and cost level for a Partnership?

• A) High

• B) Medium

• C) Low

How many owners are there in a Company?

• One

• Two or more

• Many

What is the liability of owners in a Sole Trader business?

• A) Limited

• B) Unlimited

• C) Joint

Fill in the blank: The ability to raise funds in a Partnership is _______.

• Limited.

• Unlimited.

• Flexible.

• Guaranteed.

Who makes business decisions in a Company?

• Owner

• Partnership agreement

• Board of directors

A Hierarchical Structure is a system where entities are ranked one above the other. What is a Hierarchical Structure?

• A system where entities are ranked one above the other

• A system where entities are ranked equally

• A system with no ranking

• A system with random ranking

What is a Functional Structure?

• A type of organizational structure where the organization is divided into smaller groups based on specialized functional areas, such as IT, finance, or marketing.

• A structure where the organization is divided into semi-autonomous units or divisions.

• A structure that combines elements of both functional and divisional structures.

• A structure where the organization is divided based on geographical areas.

A Flat Structure is:

• a hierarchical organization with many levels

• an organization with few or no levels of middle management

• a structure with a complex chain of command

• a type of organizational structure with a centralized decision-making process

What is a Divisional Structure?

• A type of organizational structure where the organization is divided into semi-autonomous units or divisions.

• A structure where all employees report to a single manager.

• A structure that focuses on a flat hierarchy with few levels of management.

• A structure that emphasizes teamwork and collaboration across all levels.