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Private Limited Company Quiz
10 Questions
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Private Limited Company Quiz

Created by
@HilariousAwe

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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?

    <p>Companies House</p> Signup and view all the answers

    What allows a company to begin trading?

    <p>Certificate of Incorporation</p> Signup and view all the answers

    What is a disadvantage of a private limited company?

    <p>Accounts of the company cannot be kept private</p> Signup and view all the answers

    What is a disadvantage of a public limited company?

    <p>More difficult and expensive to set up - more administration</p> Signup and view all the answers

    What is an advantage of a private limited company?

    <p>Limited liability</p> Signup and view all the answers

    What is a feature of a public limited company?

    <p>Cannot sell shares on stock exchange</p> Signup and view all the answers

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

    <p>Has to produce accounts</p> Signup and view all the answers

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