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

Five people have come together to start a business which has unlimited liability. Which type of business ownership have the entrepreneurs decided for their start-up?

An individual wants a quick, easy and inexpensive way to start-up a small business. In this situation, which of the following types of organisation should the individual select for his start-up?

Which of the following is an advantage of operating a business as a private limited company?

The agreement for one business to trade under another business’ name is called a:

A business has decided to expand in the UK through opening two new franchises. The forecast revenue over the next 3 years per franchise is shown in the table below.

The franchisee will pay a royalty of 8%. How much will the franchisor receive in total in royalties in the next 3 years?

Which of the following is always considered a disadvantage of setting up a business as a partnership in comparison to starting up as a sole trader?