Types Of Bus Ownership Question Preview (ID: 8826)

a) Shares available for the public to buy

b) It is a partnership

c) Shares are only available for limited people to buy

d) Company with no directors

a) When two or more people join to start up a business

b) An organisation with one owner

c) A company that has a partnership with another company

d) A company that has shares on the stock market

a) A business owned by one person

b) A business that licenses out its image

c) A business that has two or more partners

d) A business that has a number of shareholders

a) Salvation Army

b) Woolworth

c) Optus

d) Narellan Town Centre

a) Unlimited liability

b) Be your own boss

c) Keep 100% of profits

d) Difficult and expensive to set up and operate

a) Increased reporting obligations and costs associated with operating

b) Unlimited liability

c) Legal responsibility for the debts of other shareholders

d) Limited liability

a) Perpetual succession

b) Unlimited liability

c) Easy and inexpensive to set up and run

d) Lack of opportunities to raise funds

a) Easier to raise capital

b) High costs to start up and maintain

c) Extensive reporting obligations

d) Ceases to exist once one partner dies

a) False - a company can be limited by guarantee

b) True - this is the major difference between a company and a sole trader/ partnership

c)

d)

a) True

b) False

c)

d)