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Business Ownership Flashcards | StudBud

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For a private limited company, the total number of members must be

Limited here means the members is limited to the amount of what, when facing liabilities

Business Ownership

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Chapter 8 of Entrepreneurship Course

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Questions 9

Answers

1
Limited here means the members is limited to the amount of what, when facing liabilities
shares
borrowings
profits
assets
2
For a private limited company, the total number of members must be
At least 2 and not more than 200 persons
At least 2 and not more than 200 persona
At least 2 and not more tha 100 persons
At least 2 and not more than 50 persons
3
How many members a Public limited company has?
At least 7 and no maximum limit
At least 2 and no maximum limit
At least 20 and no maximum limit
No minimum and no maximum limit
4
In sole proprietorship, profits belong to the
share holders
investors
partners
owner
5
The Simplest business form with minimal legal requirement is
Public limited company
Sole proprietorship
Private limited company
Sole partnership
6
At the end of the name of the Private Limited Company must carry the words
Ptd Ltd
Co Ltd
Ltd
Co
7
Business registered under partnership has to have at least
Four persons
Two persons
no limit
20 persons
8
The following are the characteristics of a partnership EXCEPT
Owners are called partners
Partners can contribute money, labour or skills
All the above
In all conditions, all partners share the profits and losses
9
The "public" means
The shares can be easily purchased by public
The shares can be purchased and sell it again by public
The reselling of shares are restricted only among members
The shares are restricted to be purchased by the members