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Private Limited Company Quiz

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Questions and Answers

What is the cost to set up a private limited company?

£10,000

£100

£1 (correct)

£1000

Who can shares be sold to in a private limited company?

Business competitors

Foreign investors

Family and friends (correct)

General public

What is a key advantage of private limited companies?

Limited liability (correct)

Complex ownership structure

Higher tax rates

Unlimited liability

Where are the details of all companies kept?

Companies House Signup and view all the answers

What allows a company to begin trading?

Certificate of Incorporation Signup and view all the answers

What is a disadvantage of a private limited company?

Accounts of the company cannot be kept private Signup and view all the answers

What is a disadvantage of a public limited company?

More difficult and expensive to set up - more administration Signup and view all the answers

What is an advantage of a private limited company?

Limited liability Signup and view all the answers

What is a feature of a public limited company?

Cannot sell shares on stock exchange Signup and view all the answers

What is a disadvantage of both private and public limited companies?

Has to produce accounts Signup and view all the answers