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Questions and Answers
Which type of business organisation has complete control and requires a small amount of start-up capital?
Which type of business organisation has complete control and requires a small amount of start-up capital?
- Public limited companies
- Partnership
- Sole traders (correct)
- Limited companies
What is a disadvantage of a partnership in terms of decision making?
What is a disadvantage of a partnership in terms of decision making?
- Unlimited liability
- Difficult to raise finance
- Business ceases to exist if one partner leaves
- Decisions do not bind all partners (correct)
What is a shared feature of limited companies?
What is a shared feature of limited companies?
- Difficult to raise finance
- Owned by its shareholders (correct)
- Unlimited liability
- Legal documents required for setup
What is a disadvantage of sole traders in terms of raising funds?
What is a disadvantage of sole traders in terms of raising funds?
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What is a popular reason for forming a partnership?
What is a popular reason for forming a partnership?
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