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AQA GCE Business 3.1.2 Different Forms of Business - Key Terms Flashcards | StudBud
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AQA GCE Business 3.1.2 Different Forms of Business - Key Terms
AQA GCE Business 3.1.2 Different Forms of Business - Key Terms
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#Business #AQA quiz covering different forms of business.
Flashcards
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Questions
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Answers
1
A sole trader ...
has limited liability
is run by one person
is able to sell shares
is an incorporated business
2
In an unincorporated business ...
There is no difference between the owner and the business
The business has a separate legal identity
3
The letters used to denote a Public Limited Company are ...
BLT
LTD
PLC
WTF
4
How many people could work for a sole trader's business?
Only one - the owner
At least 5
As many as they like
Only two - the owner and their spouse/child
5
Which of the following has unlimited liability?
A sole trader
Private Limited Company
Public Limited Company
An incorporated business
6
A Public Limited Company must ...
Have been trading for at least 10 years.
Have share capital of at least £50,000
Have the letters LTD after its name.
Have at least 10 shareholders.
7
Tesco, Apple and Microsoft are examples of .....
Private sector organisations
Sole traders
Public sector organisations
Private Limited Companies
8
If the owners of a business are liable only for the value of the shares issued they have ...
Unlimited Liability
Limited Libel
Limited Responsibility
Limited Liability
9
The letters used to denote a Private Limited Company are ...
MBE
LTD
OMG
PLC
10
Which of these is correct?
Unicorn
Unincoroporated
Uncorporated
Unincorporated
11
To sell shares a Private Limited Company must ...
Send a list of the names of their employees to the Treasury.
Have been trading for at least 10 years.
Have a turnover of at least £500,000 per year.
Have the agreement of the other shareholders.
12
In an incorporated business ...
The business has a separate legal identity
There is no difference between the owner and the business
13
These organisations are owned and financed by private individuals.
Public Sector Organisations
Private Sector Organisation
14
These organisations are owned and run by the Government.
Private Sector Organisations
Public Sector Organisations
15
Which type of business can sell shares on the Stock Exchange?
Sole Trader
PLC
LTD
Partnership
16
If the owners of a business are liable for all debts then they have ....
Tax Exemption
Unlimited liability
At least 150 members of staff
Limited Liability
17
An independent plumber is most likely to be ...
A public limited company
A public sector organisation
A sole trader
A holding Corporation
