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Business

8th -

10thgrade

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Business Ownership

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10 questions

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  • 1. Multiple Choice
    45 seconds
    1 pt

    Which of the following best describes the term limited liability? If the business fails:

    Personal possessions of the owner can be taken to pay any debts

    The owner is personally liable for all the debts of the business

    There is no limit on the amount the owner has to pay to settle debts

    The owner only loses the amount invested in the business

  • 2. Multiple Choice
    45 seconds
    1 pt

    Which type of legal structure is used when two or more people join together to start a business and have unlimited liability?

    Sole trader

    Partnership

    LTD

    PLC

  • 3. Multiple Choice
    45 seconds
    1 pt

    What are the owners of private and public limited companies called?

    Stakeholders

    Managers

    Board of directors

    Shareholders

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