1. What is limited liability?
- If a business goes into debt or bankruptcy, they won't lose their personal belongings
- If a business goes into debt or bankruptcy, they can lose their personal belongings
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Other questions in this quiz
2. How many people can own a partnership?
- Maximum of 50
3. What is a disadvantage of a sole trader?
- Have to register for companies house
- Unlimited liability
- Limited liability
4. What are the 4 p's that make up the marketing mix?
- Product, Price, Place & Promotion
- Promotion, Price, Predictions & Plan
- Plan, Place, Product & Prevention
5. What is it called when suppliers allow payment for goods to be made after delivery?
- Trade Credit
- Bank Loan
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