Chapter 4: Types of Business Organisation

Assessment
•
Dean Hoss
•
Other
•
10th - 11th Grade
•
1K plays
•
Medium
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12 questions
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1.
Multiple Choice
only employs one person
is owned by one person
has a single customer
is a single firm in the industry
2.
Multiple Choice
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
capital is limited to the owner's savings and bank loans
decisions take too long to make
owners may disagree
4.
Multiple Choice
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
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
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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