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business structures (GCSE) Flashcards | StudBud
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business structures (GCSE)
business structures (GCSE)
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test your starter knowledge on these questions #colstons #A65 #businessstructure
Flashcards
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Questions
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Answers
1
what is the main advantage of being a sole trader?
chance to share ideas with others
you have unlimited liability
you have full control of the business
you have more responsibility
2
a business that sells the right for someone else to use its name is a ......
not for profit organisation
sole trader
cooperative
franchise
3
what kind of company sells its shares on the stock market?
public limited
private limited
franchise
partnership
4
a disadvantage of a franchise is.... what?
you can make more decisions
you get support
you are restirtced on the products you can sell
other shops sell the same thing
5
a disadvantage of a franchise is...what?
staff can leave at any time
you don't make any decisions yourself
it is harder to get well known
you have to share the profits with the franchisor
6
what is meant by 'limited liability'?
an investor has no responsibility for the firm's debts
the debts of the firm are equally shared between investors
the number of shares issued by a firm
liability is limited to the value of the investment
7
an advantage of a partnership is....
more chance of promotion
the company is bigger
you are able to share decisions making and responsibility
you lose control
8
who controls a public limited company?
the managers
the owner
the employees
shareholders
9
a firm that chooses who can be a shareholder is...what?
cooperative
sole trader
private limited
public limited
10
what is a partnership?
a business owned by more than one person
where two businesses work together
shares are held by just the owners
where shares are sold to other investors
