Chapter 1 Self-test Questions

Introduction

Quiz Content

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. The company is the most popular business structure. Is this statement true or false?

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. Identify which one of the following statements is not true.

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. How is a sole proprietorship formed?

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. Which one of the following is not a form of UK partnership?

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. Which one of the following statements regarding a partnership is not true?

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. Does a partner of a partnership have to be a natural person?

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. There are several key differences between a partnership and a limited partnership. Identify these differences.

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. Which one of the following statements is not true?

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. Jane and Kate wish to engage in business together. They both wish to be involved in managing the business, but are keen to minimise their liability for any debts and liabilities that the business generates. Which business structure would be most appropriate?

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