Quizzes, Questions & Answers

Top Trending Quizzes

Understanding Business Structures: ACCA F4 Corporate Law Quiz

Enhance your understanding of corporate law and business organization principles with this ACCA F4 focused quiz. It is designed to help you master key legal terms and definitions relevant to business structures, aiding in...

Questions: 24 | Attempts: 13 | Last updated: Aug 4, 2025

Sample Question 1
What is a sole trader/sole practitionership?

- The owner of a sole trader/sole practitionership is not responsible for any debts incurred by the business.

- Sole trader businesses are suitable for all sizes and types of businesses, including large corporations.

- Sole traders are required to go through extensive legal procedures to set up their businesses.

1 Types of Business Organisation - The owner 'is' the business - owns the assets and is liable for all the debts. - No legal formalities are required to set up a sole trader business/practitionership - This form of business is inappropriate for large businesses or those involving a degree of risk.

Sample Question 2
What is a general partnership?

1 Types of Business Organisation Defined by Partnership Act 1890 (PA 1890) as the relationship which subsists between persons carrying on a business in common with a view to profit.

A sole proprietorship with multiple owners.

A business structure where the liability of owners is limited to their investment.

A type of corporation where ownership is publicly traded on stock exchanges.

Sample Question 3
What is a limited partnership?

1 Types of Business Organisation Formed under the Limited Partnerships Act 1907

A form of business with only one owner

An organization with unlimited liability for all partners

A business structure regulated by the Limited Liability Partnership Act 2000