What is an advantage of being a Partnership?

Having different skills in the business

If a business has Limited liability...

Shareholders personal possessions are NOT at risk.

A Disadvantage of being a PLC is...

Having to share profits with shareholders, Possibility of hostile takeovers

Someone who owns part of a Limited company

What is a disadvantage of being a Sole Trader

Risking your personal possessions

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Theory 1 Ownership

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Ownership

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Questions 15

Answers

1
What is a disadvantage of being a Partnership?
Doesn't have to share profits
Most laws do not apply to them
Help making important decisions
Unlimited liability
2
A Limited company has
20 or more employees
A large Head office
It's own legal identity
20 or more shareholders
3
Which two businesses have unlimited Liability?
Sole Trader & Partnership
LTD & Partnership
PLC & Sole Trader
PLC & LTD
4
A business that is owned by one person is a?
LTD
Sole Trader
Partnership
PLC
5
Ltd stands for...
Private Liability Corporation
Private Limited Company
Public Liability Corporation
Public Limited Company
6
A business that has limited liability but can't sell shares on the stock market is?
Sole Trader
Private Limited Company
Public Limited Company
Partnership
7
What % of shares gives you control of a PLC?
100%
49%
50%
51%
8
What is an advantage of being a Partnership?
Have to split the profits
Having different skills in the business
Limited liability
Having to discuss all decisions
9
A business has Limited Liability and goes bankrupt what can the shareholders lose?
Only the amount they invested
Everything
The amount they invested and their house
Personal possessions only
10
If a business has Limited liability...
It can't go bankrupt
Shareholders personal possessions are at risk
Shareholders personal possessions are NOT at risk.
It will make profit
11
A Disadvantage of being a PLC is...
Having to share profits with shareholders
Being able to sell shares
Being able to buy large quantities of products
Possibility of hostile takeovers
12
A Sole Trader is usually
A Small Business
A Large Business
A Medium Sized Business
A Franchisor
13
Which of these businesses are NOT Incorporated?
Partnership
PLC
Sole Trader
Ltd
14
A shareholder is?
Someone who owns part of a business
Someone with an interest in a business
Someone who holds your shares
Someone who owns part of a Limited company
15
What is a disadvantage of being a Sole Trader
No discussion over decisions
You make all the decisions
Have to share profits
Risking your personal possessions

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