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- 1. Multiple Choice
A business owned and operated by one individual is otherwise known as a
Partnership
Joint venture
Sole trader
Franchise
- 2. Multiple Choice
Pizza Hut, Haagen-Dazs, Starbuck's are all known examples of what type of business enterprise that exists in Trinidad and Tobago?
Joint venture
Partnership
Sole trader
Franchise
- 3. Multiple Choice
One feature of a sole trader business is that they do not have employees. They operate the business entirely on their own.
True
False
- 4. Multiple Choice
Sole traders and partnerships have unlimited liability
True
False
- 5. Multiple Choice
Public sector companies are able to sell shares via the stock exchange to members of the public
True
False
- 6. Multiple Choice
One advantage of a partnership is that ..
More ideas are brought in
The decisions of one partner affects all
Decision making takes longer
If one partner incurs debt, it is now the debt of all partners
- 7. Multiple Choice
One advantage of a sole trader over a public limited company is that
Sole traders are usually better able to source finance
Sole traders typically have better reputations
Sole trader business have less legal formalities in setting up
Sole traders have more ideas than the members of a board of directors
- 8. Multiple Choice
A joint venture is a collaboration between two companies where the companies work together on a project/product while maintaining their existing brands.
True
False
- 9. Multiple Choice
If a company has unlimited liability, their personal assets may need to be sold to repay debts
True
False
- 10. Multiple Choice
Private limited companies require shareholders to be invited to invest
True
False
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