Q.1.
Which of the following is an advantage of a partnership?
Q.2.
Which of the following is not the feature of the sole trade?
Q.3.
Which of the following is not the advantage of the sole trader?
Q.4.
Final account includes
Q.5.
Which of the following is NOT a type of business ownership?
Q.6.
Nike, Google and Apple are examples of.....
Q.7.
Closing stock is recorded in trading account and ___________________________
Q.8.
Sole Proprietorship is most suitable for
Q.9.
Which of the following is a type of business which operates as a separate legal entity?
Q.10.
Which of the following is the process of issuing loans in small amounts?
Q.11.
How is a corporation different from a sole proprietorship or partnership?
Q.12.
An amount written in parentheses on a financial statement indicates an estimate.
Q.13.
This type of business is owned by one person.
Q.14.
This type of business is a contractual agreement with a parent company to sell its products/services in an area.
Q.15.
Owners share the risks and the profits.
Q.16.
This type of organization is a legal entity separate from its owners.
Q.17.
Owned by two or more individuals.
Q.18.
Disadvantages of this business type include: needs a partnership agreement, partners might not get along, owners share profits, unlimited liability.
Q.19.
McDonald's and Burger King are examples of....
Q.20.
Disadvantages of this type of business include: company is taxed on profits, regulated by the government, and hard to start.