Business Structures

This is a quiz about the different structures of business.

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

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

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

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

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

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

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

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

Former Member

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Great Quiz!

Hiran Maher

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Real fun!!!

alicia sessions

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boring

davidsalter

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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

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Too easy

rascal1599

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this quiz rustled my jimmies

rafidddddd

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top of the leader bored

caian

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could be longer, like maybe 30 more cards

yes pls

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