What type of liability does a sole trader have?
Limited
Unlimited
Private
What is a private limited company often abbreviated as?
Ltd
ARR
Plc
Which two businesses have limited liability?
Public limited companies and private limited companies
Private limited companies and partnerships
Public limited companies and sole traders
How many owners can a partnership have?
1 to 30
2 to 20
2 to 50
Which of these businesses is a type of not-for-profit organisation?
Sole trader
Partnership
Social enterprise
Which business sells its shares on the stock market?
Private limited company
Public limited company
Franchise
Which of these is a benefit of being in a partnership?
There are more ideas in the business
The owners have to give away a share of the business profits
There is unlimited liability
Which of these is a disadvantage to being a sole trader?
Being your own boss
Being personally responsible for all business debts
Sharing profits
What are owners also known as in a private limited company?
Shareholders
Stakeholders
Owners
How is a charity mainly funded?
Donations
Bank loan
Overdraft