671772
Description
Quiz by James HERSH, updated more than 1 year ago
|
Created by James HERSH
almost 11 years ago
|
|
Question 1
Question
What are the advantages of a Sole Trader.
Answer
-
Easy to Set Up
-
You get to be your own boss
-
Working Longer Hours
-
You decide what happens to profit
Question 2
Question
How many people are needed to form a partnership?
Answer
-
2
-
3
-
1
-
2-20
Question 3
Question
Which is an advantage of having a Limited company?
Answer
-
Limited Liability
-
Unlimited Liability
Question 4
Question
Sole Traders have ______________ liability
Answer
-
Unlimited
-
Limited
Question 5
Question
Partners can sign a _______________ - this shows how businesses will be run and how profit is shared. If there is no deed, _____________________.
Answer
-
Deed of Partnership
-
Profits are shared equally
-
Document
-
Profits are invested into the business
-
Certificate of Incorporation
-
Companies Act 1985
Question 6
Question
Partnerships have ______________ Liability.
Answer
-
Unlimited
-
Limited
Question 7
Question
What are sleeping partners?
Answer
-
Partners who work during the night while others are asleep
-
Partners who invest money into the business but are not actively involved in it
-
Retired Partners
Question 8
Question
Sleeping Partners have _________________
Answer
-
Limited Liability
-
Unlimited Liability
Question 9
Question
Limited Companies are owned by at least__________ shareholders
Answer
-
1
-
2
-
3
-
4
-
5
-
10+
-
20+
Question 10
Question
With Private Limited Companies. Shares are sold_________________________________who__________________________________. They receive___________ in return.
Answer
-
privately to friends and family
-
invest into the business.
-
discounts
-
Dividends
-
Publicly on the stock market
-
purchase products from the business
Question 11
Question
All shareholders have ________________ liability.
Answer
-
Limited
-
Unlimited
Question 12
Question
Each shareholder has some control of the business, they vote annually for____________________________.
Answer
-
Directors at AGMs
-
New products/services for the company to offer
-
how much dividends they receive
Question 13
Question
What information is needed to register a company. (Limited Companies)
Answer
-
A Memorandum of Association
-
Articles of Association
-
Certificate of Incorporation
Question 14
Question
A limited companies accounts can be viewed by anyone
Answer
- True
- False
Question 15
Question
A memorandum of Association is ______________________________________________
Answer
-
a document giving the name, address, activity and shares of the company.
-
a document giving details of the voting rights of the shareholders, how profits, will be shares and what the directors do.
Question 16
Question
Articles of Association is ______________________________________________
Answer
-
a document giving details of the voting rights of the shareholders, how profits, will be shares and what the directors do.
-
a document giving the name, address, activity and shares of the company.
Question 17
Question
What does Unlimited liability mean
Answer
-
The owner/s are responsible for all the debts of the business. Risk: Own Possessions.
-
Shareholders (owners) are only responsible for the amount they invested.
Question 18
Question
When a business has been registered at Companies House it will then receives a ____________________
Image:
CH_TL_keyline (image/jpg)
Answer
-
certificate of incorporation
-
memorandum of association
Question 19
Answer
-
is a document containing information about shares
-
a list of products/services a company offers
-
a document which allows them to start trading
Question 20
Question
A business owner decided not to offer any stocks for sale to the public. What type of corporation are they an example of?
Answer
-
Limited (Private)
-
Limited (Public)
-
Sole Trader
-
Partnership
Want to create your own Quizzes for free with GoConqr? Learn more.