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Entrepreneurship & Business Ownership Flashcards | StudBud
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Entrepreneurship & Business Ownership
Entrepreneurship & Business Ownership
18 terms
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StudBud Administration
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OCR GCSE
Flashcards
18 cards
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Practice quiz
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Questions
18
Answers
1
A disadvantage of a sole trader is
paying dividends to share holders
limited liability
skills shortage
sharing the profits
2
Owned and operated by 2-20 people
sole proprietorship
partnership
LTD
PLC
3
Most common form
partnership
sole proprietorship
PLC
LTD
4
Which of the following is an ADVANTAGE of entrepreneurship?
long and irregular hours
personal satisfaction
risk of failure
high level of stress
5
Most complicated to set up and run
LTD
PLC
partnership
sole proprietorship
6
A person who owns, operates, and takes all the risk of a business venture:
manager
entrepreneur
franchisor
entrepreneurship
7
Allows the greatest freedom in making decisions
LTD
PLC
partnership
sole trader
8
A __ is a legal agreement to help stop conflict between partners in a business
deed of owners
deed of contract
deed of partnership
deed of franchise
9
Two types: general and limited
sole proprietorship
partnership
LLC
corporation
10
Each owner has limited liability
LTD
sole proprietorship
PLC
partnership
11
Owners can easily own a percentage of a business buying or selling stock in a ___.
franchise
sole trader
partnership
limited company
12
Which characteristic MOST affects the likelihood of being a successful entrepreneur?
useful product/service
reason for starting business
education level
business knowledge
13
Two types: public and private
franchise
limited company
sole trader
partnership
14
Which of the following is a characteristic of a successful entrepreneur?
self-motivation
creativity
willingness to work hard
good social skills
15
Who has unlimited liability?
PLC
partnership
LTD
sole proprietorship
16
Type of ownership which dissolves if one person dies
sole proprietorship
limited company
partnership
partnership
17
Pick the missing work: Revenue - ? = Profit
Chips
Costs
Shares
Dividend
18
Easiest form to start
PLC
partnership
LTD
sole trader
