Business ownership (OCR GCSE Business): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
How many main forms of businesses are there?
How many main forms of businesses are there?
4
What is a sole trader?
What is a sole trader?
Exclusive owner keeping profits & liable
What is an advantage of being a sole trader?
What is an advantage of being a sole trader?
Full control of the business
How many individuals can be in a partnership?
How many individuals can be in a partnership?
2-20 individuals
What do partners share in a partnership?
What do partners share in a partnership?
Risks, responsibilities & expenses
How does a private limited company sell shares?
How does a private limited company sell shares?
Privately to selected people
How does a public limited company offer shares?
How does a public limited company offer shares?
Publicly via stock exchange
What is limited liability?
What is limited liability?
Owners don't use savings to pay debts
What is unlimited liability?
What is unlimited liability?
Owners must pay back all debts
Which business types have unlimited liability?
Which business types have unlimited liability?
Sole trader & partnership
What type of business is suitable for start-ups needing small finance?
What type of business is suitable for start-ups needing small finance?
Sole trader
What type of business needs very large amounts of finance?
What type of business needs very large amounts of finance?
Public limited company