Business Structure Quiz

Exam Board: OCR

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1. Limited liability means

  • The personal possesions of the owner are at risk
  • Owners can lose money that they have put in
  • A firm is not very reliable
  • A firm is limited as to what it can produce
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Other questions in this quiz

2. Which of these businesses are most likely to be a sole trader?

  • The Pet Shop
  • Tesco
  • Argos
  • D.D. Roberts and Partners

3. Private Limited Companies can sell their shares on the Stock Exchange

  • True
  • False

4. Which of the following sources of finance are NOT avaliable to the sole trader...

  • Overdraft
  • Bank Loan
  • Share Capital
  • Owners Capital

5. Argos is a PLC

  • True
  • False

Comments

Judi

I thought Private Limited Companies couldn't sell on the stock exchange as they arent listed on it as they don't sell to the gneral public. So isn't question 3 false?

Rory Byrne

Some of your questions are incorect, for example, a sole trader can employ more than one employee, sole trader just means there is only one owner. Also Private Limited Companies (LTDs) cannot sell their shares on the stock market, that is a Public Limited Company (PLC). You need to fix this and if this is what you think, you had better get revising the right material.

cookie101

questions are incorrect - a sole trader can have more than one employee

cookie101

questions are incorrect - a sole trader can have more than one employee

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