Business Quiz Yr 10 Business Studies

How many people own a Sole Trader business? Question 1 How many people own a Sole Trader business? 1 2 3 4 Hint: The word ‘sole’ implies alone, or singular.

What is the minimum number of partners in a partnership? Question 2 What is the minimum number of partners in a partnership? 2 5 10 20 Hint: Just higher than the number of owners of a sole trader business.

What is normally the maximum number of partners in a partnership? Question 3 What is normally the maximum number of partners in a partnership? 10 20 50 100 Hint: Not too many, not to few.

Question 4 Unlimited liability means that the owners are personally responsible for all of the debts of the business. True False Hint: So those with unlimited liability could lose all their personal possessions.

Question 5 A sleeping partner is…..? Someone who sleeps at the office Someone who invests in the business, but doesn’t get involved in the day to day running Someone who runs the business but doesn’t put any money into it The wife of the main partner Hint: Can sleep a little longer because they don’t have to run the business.

What sort of liability do partnerships usually have? Question 6 What sort of liability do partnerships usually have? Limited liability No liability Full liability Unlimited liability Hint: Partners may still be liable for debts.

Question 7 What does PLC stand for? Private Limited Company Public Limited Company Private Liability Company Public Liability Company Hint: Gall cyfranddaliadau gael eu prynu gan unrhyw un: mae gan gyfranddalwyr atebolrwydd cyfyngedig.

Question 8 What does LTD stand for? Private Limited Company Public Limited Company Private Liability Company Public Liability Company Hint: Only those invited can buy shares: shareholders have limited liability.

When somebody buys a part of a company what is this called? Question 9 When somebody buys a part of a company what is this called? Bit Section Share Dividend Hint: Who owns companies?

Question 10 When the owners of a business receive a percentage of the profits this is known as what? A royalty A dividend A share A profit Hint: Profits are divided among the shareholders.

Where do PLCs sell their shares? Question 11 Where do PLCs sell their shares? On the Float Market At the Fish Market On the Stock Exchange At the Cattle Market Hint: Share of what market?

Question 12 A person that buys the right to trade in another company’s name is a …? Franchisor Franchisee Buyer Franchise Hint: ‘e-buys’!

The percentage of profits paid to the Franchiser is known as what? Question 13 The percentage of profits paid to the Franchiser is known as what? A Share A Profit A Dividend A Royalty Hint: Sounds as though it may be paid to the Queen!

Question 14 A Co-operative is a business owned entirely by either the workers or the customers. True False Hint: They co-operate.

Which of the following is a Public Sector business? Question 15 Which of the following is a Public Sector business? B & Q Boots BBC Barclays Bank Hint: They do not try to provide services for a profit.

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