Business Organization Types Quiz
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

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?

  • 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?

  • 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?

    <p>May not be able to raise funds</p> Signup and view all the answers

    What is a popular reason for forming a partnership?

    <p>Overcoming disadvantages of sole traders</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser