Business Studies

Business Aims and Organisation

Business structure - Test

1.

What is the main advantage of being a sole trader?

2.

Who is limited liability an advantage to?

3.

What is a partnership?

4.

Who is a company controlled by?

5.

What legal identity does a company have in the eyes of the law?

6.

What is a business that sells the right to use a business idea?

7.

Which of the following is NOT an advantage offered by a franchise?

8.

Who is a franchise bought by?

9.

Which type of business does NOT usually have limited liability?

10.

Who has legal responsibility to settle debts in a company with unlimited liability?