Business Exam 2025 ACTUAL EXAM COMPLETE 40 QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
1. Sole trader A sole trader operates a business on his or her
own. The trader controls, manages and owns the
business and is entitled to all the profits but is
also personally liable for all business debts and
taxes
- Unlimited Liability
2. Partnership Partnerships are the most common among
professional
people. Two or more people run the business (up
to 25). Business owners share all profits, all
responsibility, and all losses, are liable for debt,
and do not pay income tax as a company itself.
- Unlimited Liability
3. Registered com- A company is a separate legal entity. This
pany means, unlike a sole trader or partnership a
company can owe money.
- Limited liability
4. Joint Venture A joint venture is made up of two or more parties
and
are very similar to a partnership. Partys and
usually other businesses putting there reasources
together to carry out a seperate business
venture. Neither are liable for the others debt.
5. Unlimited Liability Unlimited liability means that the business owner
or part-
ner is personally responsible for any business
debts and losses including any that exceed the
business's assets.
6. Limited Liability A limited liability company means that the
business own-
ers are not personally responsible for the
company's debts beyond their initial investments
and commitments. This generally means that if
To get this or any other Exam contact ()
, Business Exam 2025 ACTUAL EXAM COMPLETE 40 QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
the company is sued the owner's assets are
protected. And they can only lose what they
invested. Limited liability helps in terms of risk
man- agement and means that the owner's
finance is different to the business finances.
7. Legal entitiy A company or organisation that has legal rights
and re-
sponisbilitys
8.
To get this or any other Exam contact ()
VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
1. Sole trader A sole trader operates a business on his or her
own. The trader controls, manages and owns the
business and is entitled to all the profits but is
also personally liable for all business debts and
taxes
- Unlimited Liability
2. Partnership Partnerships are the most common among
professional
people. Two or more people run the business (up
to 25). Business owners share all profits, all
responsibility, and all losses, are liable for debt,
and do not pay income tax as a company itself.
- Unlimited Liability
3. Registered com- A company is a separate legal entity. This
pany means, unlike a sole trader or partnership a
company can owe money.
- Limited liability
4. Joint Venture A joint venture is made up of two or more parties
and
are very similar to a partnership. Partys and
usually other businesses putting there reasources
together to carry out a seperate business
venture. Neither are liable for the others debt.
5. Unlimited Liability Unlimited liability means that the business owner
or part-
ner is personally responsible for any business
debts and losses including any that exceed the
business's assets.
6. Limited Liability A limited liability company means that the
business own-
ers are not personally responsible for the
company's debts beyond their initial investments
and commitments. This generally means that if
To get this or any other Exam contact ()
, Business Exam 2025 ACTUAL EXAM COMPLETE 40 QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
the company is sued the owner's assets are
protected. And they can only lose what they
invested. Limited liability helps in terms of risk
man- agement and means that the owner's
finance is different to the business finances.
7. Legal entitiy A company or organisation that has legal rights
and re-
sponisbilitys
8.
To get this or any other Exam contact ()
