Podcast
Questions and Answers
What is one characteristic of a Sole Proprietorship?
What is one characteristic of a Sole Proprietorship?
- It is easy to raise capital.
- It allows for shared control.
- It has a formal structure.
- It has unlimited liability. (correct)
Which factor is NOT considered in establishing a new business?
Which factor is NOT considered in establishing a new business?
- Financial planning.
- Personal hobbies of the owner. (correct)
- Target market analysis.
- Legal requirements.
Which of the following is a demerit of a Partnership?
Which of the following is a demerit of a Partnership?
- Lack of continuity.
- Limited capital raising ability.
- Possibility of disputes among partners. (correct)
- Shared decision-making.
What distinguishes an Industry from a Firm?
What distinguishes an Industry from a Firm?
Which of the following best describes a Joint Stock Company?
Which of the following best describes a Joint Stock Company?
Flashcards
Business
Business
Activities that involve the production, distribution, and exchange of goods and services to satisfy human needs and wants.
Business Organisation
Business Organisation
A group of people who work together to achieve a common goal, typically to produce and sell goods or services.
Promotion of Business
Promotion of Business
The process of creating and getting a new business up and running, involving planning, financing, finding resources, and marketing.
Sole Proprietorship
Sole Proprietorship
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Partnership
Partnership
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