7. true or false is exchange the giving up of something for something else in return
true
false
8. in apatnership what do you call a partner who contributes to capital but have no active role
enterprize
sleeping partner
unreliable partner
semi active parnter
9. what business can shareholders buy and sell shares easily. They can also increase investment or over sell part of it
patnership
sole trader
public company
conglomerate
10. this term means the individual owns and runs their own business
debtor
creditor
sole trader
patnership
11. what are the factors of prodcution
land labor capital enterprise
land enterprise profit
capital enterprize money loans
12. define linmited liabilty
exchange of goods and services
the owner is responsible for all the debt
you are not personality responsible for the debt
mean of exchange
13. what is unlimited liabilty
you are not personally responsible for the debt
the owner is responsible for the debt
mean of exchange
14. this term means " the means of exchange"
loss
barter
exchange
trade
15. true or false a sole trader has flexibility because they can make their own decisions alone
true
FALSE
16. this term is a seperate legally identity owned by shareholders who appoint a board of directors to make major decisions and is registered with government office
company
patnership
plc/ltd
sole trader
17. true or false does an accountant record profit in purely financial terms
true
false
18. sole trader partnership and companies are examples of
types of businesses
types of people in companies
types of jobs
types of economies
19. thismis a business venture (private or public) it is a combination of initiative forsight and willingness to take risk required to be successful
barter
business / enterprize
econonmy
organization
20. what is an entrepreneur
this is someone who has a business idea or venture and assume responsibilities in order for it to be successful
