A business buying the right to trade using their identity

What is an advantage of a partnership?

Support and expertise from a partner

What is meant by the word dividend?

Share of profit given to each shareholder

Which is a disadvantage of a PLC?

No control over who buys the shares

Which of these is an advantage to a franchisee?

Greater chance of business success

What is meant by the term limited liability?

The owner's assets are separate from business assets

studbud

Business Ownership

15 termsStudBud Administration365 plays

GCSE Business

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
Which business type is most likely for a hair dresser who has started his/her own business?
Private Limited Company
Partnership
Sole Trader
Public Limited Company
2
Which two types of firm have unlimited liability?
Partnerships and Private Limited Companies
Sole Trader and Private Limited Companies
Sole Trader and Partnerships
Private and Public limited companies
3
Who is a franchisee?
A business operating in the secondary sector
A business buying the right to trade using their identity
A business operating in the tertiary sector
A business selling the right to trade using their identity
4
Which business type is most likely for a business owned by 2 solicitors?
Sole Trader
Public Limited Company
Partnership
Private Limited Company
5
What is an advantage of a partnership?
You get increase capital from shareholders
You have limited liabilities
Support and expertise from a partner
You share your profits
6
What is meant by the word dividend?
Share of profit given to each shareholder
A fixed cost that does not change
A variable cost that changes with output
An asset owned by the business
7
Which business type is most likely for Tesco?
Sole Trader
Private Limited Company
Partnership
Public Limited Company
8
Which of these would not appear in a Deed of Partnership?
Profit sharing terms
Holiday dates
Decision making terms
Terms to end the partnership
9
What is an advantage of being a public limited company?
Quicker decision making
Unlimited liability
Access to more capital
Easy to set up
10
Which is a disadvantage of a PLC?
Limited access to capital
Limited access to expertise and support
No control over who buys the shares
Unlimited liability
11
What agreement is needed when setting up a partnership?
An approval of partnership
A franchise agreement
A certificate of partnership
A deed of partnership
12
Which business type is indicated by the letters ltd after the name?
Partnership
Sole Trader
Private Limited Company
Public Limited Company
13
Where does a PLC sells it shares?
The London Stock Exchange
The High Street
The Internet
The Pub
14
Which of these is an advantage to a franchisee?
Greater chance of business success
Cheap way to set up a business
Get to share the profit
Quick way to expand the business
15
What is meant by the term limited liability?
The business can go bankrupt
The owner's assets are separate from business assets
The business does not have shareholders
The owner's assets can be used to pay off business debts

Business Ownership Flashcards | StudBud