Quiz: Types of Businesses
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For the following, match the employee count to the business size classification.
< 20 Employees
20 – 199 Employees
Which of the following is NOT an advantage of the Sole Trader business structure?CorrectIncorrect
Which of the following is an advantage of a Partnership business structure?CorrectIncorrect
For the following listed factors, match each with the most appropriate business structure.
- Individual wants flexibility and freedom to make decisions without interference.
- Individual wants to share business responsibility but does not want hefty incorporation fees.
- Individual wants to reduce personal liability but control who invests in the business.
- Individual seeks rapid business expansion, reduced liability and ease of access to capital (funds).