Types of Busoness Organisation

Beschreibung

Quiz on LC Business Unit 6 - Types of Business Organisations
megan murphy
Quiz von megan murphy, aktualisiert more than 1 year ago
megan murphy
Erstellt von megan murphy vor mehr als 7 Jahre
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Zusammenfassung der Ressource

Frage 1

Frage
What is a sole trader?
Antworten
  • A business run by many stakeholders
  • A business run by two or more people but not more than twenty
  • A business owned and managed by one person

Frage 2

Frage
Advantages of Sole traders. 1. [blank_start]Formation[blank_end] and dissolution: very easy to form. 2. [blank_start]Control:[blank_end] the business is owned and controlled by a single person. this means they can make [blank_start]quick[blank_end] decisions and you can respond quickly to competitors. 3. [blank_start]Finance[blank_end]: sole traders have the least amount of paperwork to deal with and lower overhead [blank_start]costs[blank_end] 4[blank_start]. Profits[blank_end] and risk: sole trader keeps all profit after [blank_start]taxes[blank_end] are paid.
Antworten
  • Formation
  • Control:
  • quick
  • Finance
  • costs
  • . Profits
  • taxes

Frage 3

Frage
Two advantages of setting up as a sole trader are: there are long working hours and sole traders have unlimited liability
Antworten
  • True
  • False

Frage 4

Frage
A partnership is two or more people (but less than 30) who are in a business together in order to make a profit.
Antworten
  • True
  • False

Frage 5

Frage
All companies and co-operatives set up in Ireland must register with the Companies Registration Office (CRO).
Antworten
  • True
  • False

Frage 6

Frage
A________________________ is a business owned by investors called ________________________.
Antworten
  • public limited company / shareholders
  • private limited company / shareholders
  • Sole trader / directors
  • private limited company / directors

Frage 7

Frage
____________________ are businesses that are democratically owned and controlled by their members who may be the firm's workers, suppliers or customers.
Antworten
  • Public limited company
  • private limited company
  • Co-operatives
  • Partnerships

Frage 8

Frage
A [blank_start]public[blank_end] limited company like Glanbia has to have at least [blank_start]seven[blank_end] shareholders. there is no maximum number of shareholders. the biggest difference between a [blank_start]public[blank_end] limited company and a [blank_start]private[blank_end] limited company is that the [blank_start]shares[blank_end] in a public limited company can be sold on the [blank_start]stock market.[blank_end]
Antworten
  • public
  • private
  • seven
  • two
  • public
  • private
  • public
  • private
  • profit
  • shares
  • stock market.
  • share market

Frage 9

Frage
Strategic alliances are agreements between businesses to co-operate in the establishment of a project or business together
Antworten
  • True
  • False

Frage 10

Frage
Franchising means renting a complete business formula out to someone else
Antworten
  • True
  • False

Frage 11

Frage
A business that changes its legal structure will see a decrease in finance, skills and will see bigger risks in regards business expansion.
Antworten
  • True
  • False

Frage 12

Frage
public-private partnerships are new commercial state enterprises that are undertaken as joint ventures with the private sector e.g. toll brdges on motorways
Antworten
  • True
  • False
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