Types of Business Entities Quiz by Shubhrata Shrestha | Aug 17, 2025 | 0 comments Types of Business Entities Quiz 1. What is the main objective of private sector organizations? a) To provide free education b) To maximise profit c) To provide essential goods d) To regulate markets None 2. Who owns public sector organizations? a) Shareholders b) Private individuals c) Government d) Cooperatives None 3. Which type of business has unlimited liability for debts? a) Sole traders b) Public limited companies c) Private limited companies d) Cooperatives None 4. A legal agreement that sets out how profits are shared in a partnership is called: a) Partnership deed b) Memorandum of association c) Cooperative charter d) Company articles None 5. Which of the following is NOT an advantage of sole traders? a) Easy to set up b) Privacy c) Unlimited liability d) Quick decisions None 6. Which of these companies can sell shares on a stock exchange? a) Sole trader b) Partnership c) Public limited company d) Private limited company None 7. Cooperatives are: a) Owned by governments b) Owned and run by members c) Owned by one individual d) Owned by public shareholders None 8. Which is a disadvantage of partnerships? a) Shared workload b) Unlimited liability c) Increased financial strength d) Specialisation None 9. NGOs are funded mainly by: a) Stock exchange capital b) Donations and grants c) Profits from shareholders d) Government taxation None 10. Which of these is an advantage of limited liability companies? a) Unlimited liability b) Lack of continuity c) Ability to raise finance d) Fewer legal requirements None Time's up Submit a Comment Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ
