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Note that your final mark will not be saved in the system.
1.3 Business ownership MatchUp
Target Level
4-5
Running Total
0
0%
Attempt
1 of 3
Click on a top box, then click on its match below. Or, drag a top box and drop it onto the correct match. Match all pairs before clicking ‘Check’.
If the business fails, the owner is personally liable for all the debt
False
No
Restricted financial risk as only the value of their shares will be lost if the business fails
Sole trader
True
Solicitor, dentist, GP practice
Yes
Not-for-profit organisation
Board of directors
Identify one benefit for an entrepreneur of starting a limited liability business, e.g. a limited company.
Identify one disadvantage to an entrepreneur of starting an unlimited liability business, e.g. sole trader.
A sole trader business employs only one person – true or false?
Sole traders have unlimited liability – true or false?
Can a sole trader sell shares in their business to friends and family?
Can private limited companies (Ltd) sell shares to friends, family and others connected to the business?
These types of business can only operate as sole traders or partnerships.
A charity is an example of what?
Who controls and directs a public limited company?
Sole traders and public limited companies can both take bank loans. The amount borrowed will vary, but which will be charged the higher rate of interest?