Making the business effective (Edexcel GCSE Business): Quizzes
📚Quizzes
Practise the questions
13 questions from this quiz
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Practise the questions
13 questions from this quiz
What does a business's legal structure determine?
What does a business's legal structure determine?
Personal risk, funding & control
Which factors affect the choice of business ownership?
Which factors affect the choice of business ownership?
Finance, size, security & privacy
What protection does limited liability provide?
What protection does limited liability provide?
Protects owners' personal assets
What risk do unlimited liability businesses have?
What risk do unlimited liability businesses have?
Personal assets can be pursued by creditors
Which business types have limited liability?
Which business types have limited liability?
Private Ltd & Public PLC companies
Which structures have unlimited liability?
Which structures have unlimited liability?
Sole traders & partnerships
What is a key advantage of being a sole trader?
What is a key advantage of being a sole trader?
Owner makes all decisions quickly
What is a main disadvantage of sole trading?
What is a main disadvantage of sole trading?
Unlimited liability risks personal assets
How many people own a partnership business?
How many people own a partnership business?
Two or more people
What is a benefit of partnerships?
What is a benefit of partnerships?
Partners bring different skills & expertise
What happens if one partner decides to leave?
What happens if one partner decides to leave?
Business automatically ends
What advantage do Ltd companies have?
What advantage do Ltd companies have?
Owners have limited liability protection
What is a challenge of Ltd companies?
What is a challenge of Ltd companies?
Financial info must be published annually