Business Administration Quiz

What is a sole trader?

• A business entity where a single individual owns and operates the business.

• A company with two or more partners.

• A legal form of business where partners have liability limited to their contributed capital.

• A form of business organization where the share capital is divided into shares.

What is a partnership?

• A business entity where a single individual owns and operates the business.

• A company with two or more partners.

• A legal form of business where partners have liability limited to their contributed capital.

• A form of business organization where the share capital is divided into shares.

What is a limited company (Ltd)?

• A business entity where a single individual owns and operates the business.

• A company with two or more partners.

• A legal form of business where partners have liability limited to their contributed capital.

• A form of business organization where the share capital is divided into shares.

What is a public limited company (PLC)?

• A business entity where a single individual owns and operates the business.

• A company with two or more partners.

• A legal form of business where partners have liability limited to their contributed capital.

• A form of business organization where the share capital is divided into shares.

What is a shareholder?

• Individuals who own shares in a company.

• A governing body of a company.

• A senior executive in an organization.

• Any person or group that has an interest in an organization.

What is the role of a board of directors?

• To make strategic decisions and supervise management.

• To own shares in a company.

• To operate independently from the parent company.

• To manage the daily operations of a business.

What does a CEO do?

• Makes strategic decisions for the company.

• Is responsible for the company's financial performance.

• Is a senior executive in an organization.

• Oversees the board of directors.

What is a stakeholder?

• A person or group with an interest in an organization.

• An individual who owns shares in a company.

• A governing body of a company.

• A senior executive in an organization.

What does a bureaucratic organization look like?

• Characterized by a rigid structure and numerous standards.

• Decisions are made at the top.

• Decisions are distributed across different levels.

• Has few or no hierarchical levels.

What is a merger?

• Union of interests, ideas or parties.

• A legal act of acquiring ownership.

• A business system where one company grants another the right to use its brand.

• A business entity connected to another parent company.