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Worksheet of Chapter 4

The document is a revision worksheet focused on types of business organizations, including identification of various business forms, true or false statements, and multiple-choice questions. It covers concepts such as sole traders, partnerships, joint ventures, and limited companies. The worksheet aims to test understanding of business ownership structures and their characteristics.

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28 views2 pages

Worksheet of Chapter 4

The document is a revision worksheet focused on types of business organizations, including identification of various business forms, true or false statements, and multiple-choice questions. It covers concepts such as sole traders, partnerships, joint ventures, and limited companies. The worksheet aims to test understanding of business ownership structures and their characteristics.

Uploaded by

wasimworkplace2010
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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TERM 1 – REVISION WORKSHEET

UNIT 4 | TYPES OF BUSINESS ORGANIZATION


I. IDENTIFICATION
a) A business owned by its shareholders.
Limited companies Unincorporated business

b) A business owned and operated by two or more people.


Joint venture Partnership

c) A business where two or more businesses agree to work together on a project.


Joint venture Partnership

d) A business system where entrepreneur buy rights to run an existing business.


Franchise Public limited company

e) A business that is owned and managed by one individual.


Sole trader Shareholder

II. TRUE OR FALSE


________ a) A sole trader has unlimited liability, meaning their personal assets can be
used to pay off business debts.

________ b) In a private limited company, shares can be sold to the general public on
the stock exchanges.

________ c) One advantage of a joint venture is that the risks and costs of the project
are shared between the businesses involved.

________ d) A public limited company is subject to fewer legal regulations than a sole
trader.

________ e) Partnerships are owned by two or more individuals who share profits
responsibilities.

II. MULTIPLE CHOICE


a) Sarah loves baking and wants to start a small bakery from home. She has limited
funds and wants to run the business independently. She also prefers keeping all
the profits for herself. What type of business organization should Sarah choose?
A. Cooperative B. Sole trader
C. Public limited company D. Private limited company
b) Anna and her sister want to open a local grocery store together. They want to share
the workload and profits, but they don't plan to involve external investors or make the
business too formal. What type of business organization should they choose?
A. Cooperative B. Joint venture
C. Partnership D. Private limited company

c) Two software engineers, Liam and Leo, want to start a business to develop mobile
applications. They want to share decision-making and responsibilities but avoid
unlimited liability, and protect their personal assets. What type of business
organization should they choose?
A. Cooperative B. Sole trader
C. Public limited company D. Private limited company

d) Ali owns a successful clothing brand and wants to expand internationally. He needs
substantial funding and wants to attract investors by selling shares on the stock
exchange. What type of business organization should Emma choose?
A. Cooperative B. Sole trader
C. Public limited company D. Private limited company

e) Two companies, EcoPower and GreenTech, decide to work together on a renewable


energy project for two years. Both companies want to share resources, risks, and
profits for the duration of the project. What type of business organization should they
use?
A. Cooperative B. Joint venture
C. Partnership D. Private limited company

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