Business Structures

This is a quiz about the different structures of business.

HideShow resource information

1. Which of the following could be a problem for a partnership?

  • The partners share unlimited liability
  • The partners have a variety of skills
  • The partners could differ in their opinion about how the business should be run
  • The Partners each invest and thus raise more capital
1 of 9

Other questions in this quiz

2. What does unlimited liability mean?

  • Should the business go bankrupt, the owner could lose personal possessions to pay off debts
  • Should the business go bankrupt, the owner will only lose what they have invested in their business
  • The owner has unlimited choice over everything they do
  • The business is liable to the Government

3. Which of these is not a benefit of being a Sole Proprietor?

  • Unlimited Liability
  • Being your own boss
  • Making all the business decisions
  • Deciding what to do with all the profit

4. What is the name of the legal document that partners can have drawn up to protect themselves?

  • Deed of Partnership
  • Deal of Partnership
  • Partnership Agreement
  • Contract of Employment

5. Why might a new business start as a Private Limted Company rather than a Sole Proprietor or Partnership?

  • The owners can buy bigger premises
  • Despite the more complex and costly paperwork, the owners will be classed as a seperate legal entity to the business
  • The owners will raise more capital by selling shares on the stock market
  • Despite the complex and costly paperwork, the owners will have unlimited liability

Comments

Former Member

Great Quiz!

Hiran Maher

Real fun!!!

alicia sessions


boring

davidsalter

A good opportunity to test knowledge with 9 questions on business ownership. Shouldn't take too long but students can use it to assess their knowledge and find out what they still need to learn. Similar to the GCSE multiple choice questions.

Arturo

Too easy

rascal1599

this quiz rustled my jimmies

rafidddddd

top of the leader bored

Similar Business Studies resources:

See all Business Studies resources »See all Ownership and control resources »