20 questions
A creative ________, he was continually dreaming up new projects.
trader
merchant
entreprenuer
seller
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
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
Which of thes options best describes opportunity cost?
The price of taking a chance
The alternative you have to go without in a choice of two things
The cost of opportunity
The price you pay when you make a choice
Which of these are external factors that influence financial decisions?
Price
Personal
Cultural
Marketing
Finance