Test
Forms of Business Ownership
Preguntas del test (20)
1What are the advantages of a Sole Trader.
- AEasy to Set Up
- BYou get to be your own boss
- CWorking Longer Hours
- DYou decide what happens to profit
2How many people are needed to form a partnership?
- A2
- B3
- C1
- D2-20
3Which is an advantage of having a Limited company?
- ALimited Liability
- BUnlimited Liability
4Sole Traders have ______________ liability
- AUnlimited
- BLimited
5Partners can sign a _______________ - this shows how businesses will be run and how profit is shared. If there is no deed, _____________________.
- ADeed of Partnership
- BProfits are shared equally
- CDocument
- DProfits are invested into the business
- ECertificate of Incorporation
- FCompanies Act 1985
6Partnerships have ______________ Liability.
- AUnlimited
- BLimited
7What are sleeping partners?
- APartners who work during the night while others are asleep
- BPartners who invest money into the business but are not actively involved in it
- CRetired Partners
8Sleeping Partners have _________________
- ALimited Liability
- BUnlimited Liability
9Limited Companies are owned by at least__________ shareholders
- A1
- B2
- C3
- D4
- E5
- F10+
- G20+
10With Private Limited Companies. Shares are sold_________________________________who__________________________________. They receive___________ in return.
- Aprivately to friends and family
- Binvest into the business.
- Cdiscounts
- DDividends
- EPublicly on the stock market
- Fpurchase products from the business
11All shareholders have ________________ liability.
- ALimited
- BUnlimited
12Each shareholder has some control of the business, they vote annually for____________________________.
- ADirectors at AGMs
- BNew products/services for the company to offer
- Chow much dividends they receive
13What information is needed to register a company. (Limited Companies)
- AA Memorandum of Association
- BArticles of Association
- CCertificate of Incorporation
14A limited companies accounts can be viewed by anyone
- AVerdadero
- BFalso
15A memorandum of Association is ______________________________________________
- Aa document giving the name, address, activity and shares of the company.
- Ba document giving details of the voting rights of the shareholders, how profits, will be shares and what the directors do.
16Articles of Association is ______________________________________________
- Aa document giving details of the voting rights of the shareholders, how profits, will be shares and what the directors do.
- Ba document giving the name, address, activity and shares of the company.
17What does Unlimited liability mean
- AThe owner/s are responsible for all the debts of the business. Risk: Own Possessions.
- BShareholders (owners) are only responsible for the amount they invested.
18When a business has been registered at Companies House it will then receives a ____________________
- Acertificate of incorporation
- Bmemorandum of association
19A certificate of incorporation
- Ais a document containing information about shares
- Ba list of products/services a company offers
- Ca document which allows them to start trading
20A business owner decided not to offer any stocks for sale to the public. What type of corporation are they an example of?
- ALimited (Private)
- BLimited (Public)
- CSole Trader
- DPartnership
Información
- Descripción
- OCR Applied Business
- Autor
- James HERSH
- Idioma
- English
- Visitas
- 2.561
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