Factors to Consider When Choosing a Form of Business Ownership (Grade 10 NSC Matric Business Studies): Quizzes
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Practise the questions
10 questions from this quiz
What does 'form of ownership' refer to?
What does 'form of ownership' refer to?
The legal position & how a business is owned
What is a sole proprietor?
What is a sole proprietor?
A business owned and run by one person
What is a partnership?
What is a partnership?
Two or more people working together
How are co-operatives controlled?
How are co-operatives controlled?
Democratically by members
What does limited liability mean?
What does limited liability mean?
Personal assets are protected if business fails
What risk does unlimited liability create?
What risk does unlimited liability create?
You could lose personal belongings for debts
What is the primary aim of profit organisations?
What is the primary aim of profit organisations?
Generate profit for owners/shareholders
What tax advantage do non-profit organisations often have?
What tax advantage do non-profit organisations often have?
Exempt from certain taxes
What does 'continuity' mean for a business?
What does 'continuity' mean for a business?
Business continues even if ownership changes
Why should tax implications be considered when choosing ownership?
Why should tax implications be considered when choosing ownership?
Different forms are taxed differently