Quiz To Test Your Knowledge Of Business Ownership!
A multiple choice quiz to test your knowledge of business ownership!
- 1.Which of these companies is a franchise?
- A.
New Look
- B.
Zeb's
- C.
Subway
- D.
Odeon Cinema
- 2.Which of these is not a benefit of franchising?
- A.
The franchisee benefits from national advertising
- B.
Allows an individual to start up a business with less risk involved
- C.
You have to follow the rules and standards of the franchise, there is less flexibility for you to do what you want
- D.
You benefit from the reputation of the franchise
- 3.What is the maximum number of people that can be involved in a partnership?
- A.
1-20
- B.
1-40
- C.
1-60
- D.
1-80
- 4.Which form of ownership is 'Matthew & Bragg Solitictors' likely to come under?
- A.
Sole Trader
- B.
Partnership
- C.
Franchise
- D.
Private Limited Company (Ltd)
- 5.Which of these is the correct definition for Unlimited Liability?
- A.
The owners are not liable for the firms debt and will only lose the amount they initially invested
- B.
The owners are personally liable for the firms debt and may have to pay them out of their own pocket
- 6.Which of these forms of ownership has Unlimited Liability?
- A.
Sole Trader
- B.
Charities
- C.
Private Limited Company (ltd)
- D.
Public Limited Company
- 7.Why is it benefical for a company to have Limited Liability?
- A.
It means they can keep all their profits
- B.
If the company goes bust they do not have to repay debts out of their own pocket
- C.
Because if you have unlimited liability you have to pay the debts back yourself
- D.
Because your staff will like you more
- 8.Which of the following is a reason why sole traders are successful?
- A.
They can offer a personalised, specialist service that meets the needs of their customers
- B.
Because unlimited liability is a 'protection' against debt
- C.
Because partnerships mean you can share the workload so you do what you're best at
- D.
Because you benefit from the marketing done by the franchiser
Questions: 10 | Attempts: 2904 | Last updated: May 27, 2021
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