What is Companies House?

Executive agency Department for Business Innovation & Skills

Stocks are equity investments that represent part ownership in corporations. Entitles you to

Part of that corporation's earnings and assets.

Name 2 advantages of franchises?

Franchises offer ongoing & important pre-opening support

Business partnership names must not include :-

‘limited’, ‘Ltd’.’ LLP’ ,’public limited company’ or ‘PLC

If a partner is to receive more money in a partnership, it is agreed at the set up stage

The professional solicitor would write up this agreement?

What are stocks and shares?

These are the unit of investment in individual companies.

Which members will be liable for any debt when the partnership ends?

All of them are equally liable.

Voluntary organisations and charities are where ....

All the money raised less admin costs is spent on the cause

What is a partnership in the business sense?

Two or more people own a business between them.

How do you register to be a sole trader?To register yourself as a sole trader all

Inform HRMC you intend to be selfemployed then you can trade

Local authorities are usually responsible for the companies that

Trash/recycling collection Council Tax planning applications

Who governs what a franchises does?

British Franchising Assc. (BFA), /U.S. Federal Trade Comn.

Name 2 benefits of being a sole trader?

Any profit after tax is yours, quick decision making.

Can a business carry on when the partnerships end?

Yes but the business must re-register as a new partnership

What is a Sole trader?

A person who is in business with his or her self.

What is a public limited Company?

Largest types of companies shares are on the stock exchange

The stock market is an everyday term we use to talk about a place where

Stocks and bonds are "traded" – meaning bought and sold.

The central government departments have a responsibility for?

The national health service and department of employment.

In a Partnership all partners must?

Send their own tax returns as individuals.

Name 2 challenges of being a sole trader?

Liability is all yours & the pressure of running a business

What is the capital required for a private limited

There is no capital requirement

studbud

Business and Organisations

40 termsStudBud Administration1,436 plays

Types of business

Flashcards40 cardsFPractice quizPHost liveL

Questions 40

Answers

1
What is the minimum number of people a public limited company can have?
7
3
2
9
2
What is Companies House?
Where all work and pensions amounts have to be registered
A terraced house where all businesses have to visit yearly.
Executive agency Department for Business Innovation & Skills
A place to visit in London for fun and frolics
3
Stocks are equity investments that represent part ownership in corporations. Entitles you to
Part of that tax allowance for individuals to claim
Parent companies have to give guidance & care to employees
Part of that corporation's earnings and assets.
Parent companies are always liable for employees' behaviour
4
Name 2 advantages of franchises?
Franchises offer ongoing & important pre-opening support
Franchises are only for soul traders and partnerships
Franchises offer tissues they give the owner use of brand
Franchises offer a great name and labels throughout
5
If one particular individual in the partnership causes debt who can the creditor pursue?
Anyone associated with the business
Anyone associated with the partners
Any of the employees
Any of the partners.
6
Business partnership names must not include :-
Public liiimmited llt lilt
‘limited’, ‘Ltd’.’ LLP’ ,’public limited company’ or ‘PLC
lilt limited llp public PLC
LOL IIP SWL Public swear words
7
Stock can be acquired by anyone holders are only limited to potentially lose their investment
Private limited company
Public Liability Compay
Public Limited Company
Public Listed Company
8
What does PLC stand for?
Public listed company
Private limited company
Public limited company
Private listed company
9
Which of the following is a public corporation?
ITV
Sky TV
BBC
Channel 4
10
If a partner is to receive more money in a partnership, it is agreed at the set up stage
No agreement is necessary just word of mouth is good enough
Professional person like a teacher or doctor write agreement
A partner would sign seal and deliver this agreement.
The professional solicitor would write up this agreement?
11
What are stocks and shares?
These are for businesses with only one person employed
These are the unit of investment in individual companies.
These are only available for soul traders
These are the cost of companies with the tax office
12
Which members will be liable for any debt when the partnership ends?
All of them are equally liable.
debt is dissolved
No one is liable for any debt - it goes to the ombudsmen
All debt is shared out between the workers
13
Name 3 franchises for fast food?
McDonalds, KFC, Pizza Hut
McRonalds, KFC, Pizza Hut
McDoonalds, KFC, Pizza Hut
McDooonalds, KFC, Pizzza Fut
14
Voluntary organisations and charities are where ....
all the money raised is paid to the cause except the taxes
All the money raised less admin costs is spent on the cause
All the money goes to the government to pay for health care
All the money apart from expenses go to the government.
15
What is a partnership in the business sense?
Where 2 people are not necessarily married live together
Two or more people own a business between them.
There are 100s of shareholders it's always non-profit making
Where one person owns a business out right keeps the profit.
16
Who owns the public limited company?
Share molders
Share scolders
Snare holders
Share holders
17
How do you register to be a sole trader?To register yourself as a sole trader all
Inform CID you intend to be selfemployed then you can trade
Inform HRH you intend to be selfemployed then you can trade
Inform HRMC you intend to be selfemployed then you can trade
Inform TQM you intend to be selfemployed then you can trade
18
All Private Limited Companies must at all times have ...
At least one Company Director
At least three company directors
At least one consortium
At least two Company Directors
19
Local authorities are usually responsible for the companies that
Recycling and painting masterpieces in Germany
Trash/recycling collection Council Tax planning applications
New European law
Planning laws for hangers and Paris drainage systems
20
Private limited companies are often own by?
The government
The aristocracy
A family
The public sector
21
What is the definition of LTD?
Limited Private companies
Private limited company
Limited Time Development
Private limitations company
22
Businesses which private entrepreneurs purchase the right to run a location of a larger company
A franchise
A hotel
A partnership
Market stall
23
Who governs what a franchises does?
French Franchising Aptitude / U.S. Federal Toy Commission
British Franchising Assc. (BFA), /U.S. Federal Trade Comn.
British Franchiseing for toys and Norwegian commision
British Fishing Association (BFA) /U.S. Federal Trade Comn.
24
Name 2 benefits of being a sole trader?
Shareholders help take the strain and don't ever pay tax
No tax is ever paid & someone else is there to make decision
Any profit is equally shared with the share holders
Any profit after tax is yours, quick decision making.
25
If one person leaves the partnership what will then happen to the business?
The business has to find another partner withing 28 days
Must register with the institute of dissolved businesses
It must dissolve
The business has to find another partner within 15 days
26
There are many types of clubs they are usually run by volunteers for the benefit of?
Work
The council
Their members
Everyone
27
Can a business carry on when the partnerships end?
No - never
Yes but they must give the tax man all their money
Yes but the business must re-register as a new partnership
No but the business must divide and conquer
28
When a new company incorporates who must they register with?
Business House
Company House
Works and pensions
Companies House
29
What is a Sole trader?
A person who is in business with family members
A person who is a star in the Northern music industry
Group of people who look after the innerself with meditation
A person who is in business with his or her self.
30
What is a public limited Company?
Smallest company not to be avaialble on the stock market
Largest types of companies shares are not on stock exchange
Smallest company to be floated on the stock market
Largest types of companies shares are on the stock exchange
31
The stock market is an everyday term we use to talk about a place where
Trading happens sticker cards and shiny cards - aka pokemon
Stocks and bonds are "traded" – meaning bought and sold.
Stocks and bonds are looked after with love and care
Trading happens only on Tuesday and Wednesdays 10:00 -16:00
32
The central government departments have a responsibility for?
The National Trust
The national & international health & safety of the country
The national health service and department of employment.
The national elf service and department of employment.
33
What is the minimum number of partners required in a partnership?
Four
Three
Two
six
34
Are the private limited company finances separate from the owners'?
Somtimes
No
all finances are joined together
Yes
35
Building societies used to be run as a non-profit making basis but now some have become.....
Public limited companies
Public limited buisness
Private limited business
Partnerships with governing officers
36
As a sole trader you must register for VAT if your turnover is over?
£80,000.
£183,000.
£85,000.
£83,000.
37
In a Partnership all partners must?
Send their own profits to the profit register house.
Send their cost and over time claim to the HMRC
Send their tax returns each week as individuals to the HMRC
Send their own tax returns as individuals.
38
In a limited company shareholders' liability is limited to the capital they originally invested
True
False
39
Name 2 challenges of being a sole trader?
Given shares in 2 companies
You have to know how to work out your shareholders profits
Liability belongs to others and the shares are the company's
Liability is all yours & the pressure of running a business
40
What is the capital required for a private limited
There is no capital requirement
No funds needed but you must have access to £30,000 if reqd
There is a minimum of £20,000 for the start up
There is a minimum of £10,000 for the start up

Business and Organisations Flashcards | StudBud