Chapter 4: Types of Business Organisation

Chapter 4: Types of Business Organisation

Assessment

Assessment

Created by

Dean Hoss

Other

10th - 11th Grade

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12 questions

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1.

Multiple Choice

1 min

1 pt

The best definition of a sole trader is a business that

only employs one person

is owned by one person

has a single customer

is a single firm in the industry

2.

Multiple Choice

1 min

1 pt

One of the advantages of a sole trader business is that

owners have limited liability

shares can be sold to raise capital

decisions and responsibilities can be shared

the owner has complete control over decision making

3.

Multiple Choice

1 min

1 pt

One disadvantage of a sole trader business is that

capital is limited to the owner's savings and bank loans

decisions take too long to make

owners may disagree 

4.

Multiple Choice

20 sec

1 pt

One of the advantages of a partnership is that

all partners have limited liability

shares can be sold on the Stock Exchange

the business can survive the death of the partners

the business has access to more capital than a sole trader

5.

Multiple Choice

1 min

1 pt

Which of the following is not a feature of a private limited company?

Shares can be issued to raise capital

Shares can be bought  and sold on the Stock Exchange

All owners of the business have limited liability

The business continues after the death of a shareholder

6.

Multiple Choice

1 min

1 pt

The main reason why an entrepreneur will convert an LTD into a PLC is

they don't want to remain in the private sector

they want to gain the benefits of limited liability

they want to keep the annual accounts secret

they want to raise additional capital to expand the business

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