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Business Studies (0450) - Quiz 1.4 Flashcards | StudBud
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Business Studies (0450) - Quiz 1.4
Business Studies (0450) - Quiz 1.4
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Types of business organization
Flashcards
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Questions
14
Answers
1
Which of the following best describes a stock market?
The global market to purchase and sell new and existing shares
The global market to purchase and sell vegetables
The global market to purchase and sell inventory
The global market to purchase and sell new shares only
2
Which term explains "A business is considered to be legally separate from its owners"?
Separation
Seperate legal entity
Separate liability
Separate responsbility
3
Which term explains "The owners of a business are legally responsible for all the debts"?
Limited liability
Seperate legal entity
Flotation
Unlimited liability
4
Which of the following best describes a public corporation?
A government owned enterprise to do public service
A company that sells shares
A privately owned enterprise to do public service
A company that sells shares to public
5
A business run by two or more people (up to 20 people) and share profits and losses.
Private limited
Partnership
Sole trader
Public limited
6
Which term explains "Owners' liability to pay company's debts is limited to their investment in the company"?
Unlimited liability
Seperate legal entity
Flotation
Limited liability
7
A business jointly owned by shareholders who are usually friends and family.
Partnership
Sole trader
Public limited
Private limited
8
A business jointly owned by shareholders who can anyone from public.
Private limited
Sole trader
Partnership
Public limited
9
What defines "An agreement by one company with another company for using its trademark or brand name"?
Right of usage
Brand contract
Franchise
Goodwill
10
What is NOT true about AGM (Annual General Meetings)?
Dividends are annouced in it
Shareholders elect directors in it
All shareholders may attend it
It is two times a year
11
Which of the following is an Incorporated business?
Sole trader
Private limited
None of the the options
Partnership
12
Which term explains "When shares of a public limited company are made available for sale to the public for first time"?
Unlimited liability
Seperate legal entity
Flotation
Limited liability
13
Which of the following is an Unincorporated business?
Sole trader
None of the the options
Private limited
Public limited
14
A business owned and controlled by one person.
Sole trader
Public limited
Private limited
Partnership
