Quiz To Test Your Knowledge Of Business Ownership!

8 Questions | Total Attempts: 374

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Business Ownership Quizzes & Trivia

A multiple choice quiz to test your knowledge of business ownership!


Questions and Answers
  • 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

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