A sole proprietor has to share the profits made by the business. True or False?
OCR GCSE Business (1-9) Business Ownership
9th - 12th Grade
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OCR GCSE Business (1-9) Business Ownership
Quiz
•
Business
•
9th - 12th Grade
•
Medium
David Munro
Used 742+ times
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20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
True
False
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Select TWO true statements that relate to a sole trader. (Select two answers)
Sole traders have limited liability
Sole traders get to make all their own decisions about the business
Sole traders may find it harder to raise funds for the business
Sole traders usually get more holidays than partners or directors
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why may an entrepreneur prefer to set up a business as a partnership?
The entrepreneur would get to make all the decisions
They entrepreneur would get to keep all the profit
The business would benefit from a greater range of skills and knowledge
The business would make more money quicker
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Partnerships are set up by....
One person
Two or more people
Ten or more people
Twenty or more people
5.
MULTIPLE SELECT QUESTION
20 sec • 1 pt
Which of the following are types of limited company? (Select 2 answers)
Personal
Private
Public
Premier
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A limited company is owned by
Shareholders
Stakeholders
Directors
Employees
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Disadvantage of a Sole trader:
Expensive to create
Hard to employ people
Doesn't generate much profit
Unlimited liability
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