The sole proprietorship form of organisation is one that is owned by:

A partnership is a type of organisation that is owned by:

A public company is owned by:

The mixed economy is one where:

The traditional economy is run by a:

What does a business's mission statement describe?

A refrigerator or a bottle of juice can be bought and consumed at a later date. These are tangible products. They are touchable, visible and quantifiable. Tangible products are specifically called

This is a business whereby the owner licenses its operations—along with its products, branding and knowledge—in exchange for a fee.

Which is not a key element of a credit union?

Which of the following institution is NOT part of the private sector?

Which of the following statements are key disadvantages of a command or planned economy? I. Limited choice of goods and services II. Provision of basic goods and services III. Provision of public goods IV; Lack of incentive for workers to be innovative

Key disadvantage of the free market or capitalist economy are I. No production of public goods II. Little or no government interference III. Complete freedom of choice IV. Large companies can limit competitive activity and create monopolies and cartels

Advantages of a mixed economies include I. The public sector provides public goods such as street lights II. Increased choice of goods and services for consumers III. Government may seek to control private sector activity IV. Decision making in the economy is shared

Which of the following types of business environment is most typical of the Commonwealth Caribbean area?

Which of the following is MOST likely to occur when a member of a partnership dies?

A public limited company in the private sector is normally established by:

Which of the following pieces of information would be found in the articles of association of a company? I. The rights and obligations of directors II. The election of directors III. The borrowing powers of the company IV. The objectives of the company

All of the following are legal requirements for the formation of a company EXCEPT:

The memorandum of association includes all of the following except:

Which of the following is necessary for a private limited company to begin trading?

Those shareholders who, when their company goes bankrupt, stand to lose all their personal possessions as well as their investments are known as:

Which business unit could have its shares quoted on the stock-exchange?

Which of the following factors are advantages of a company? I. Continuity - perpetual succession (death of shareholders does not affect the company) II. Limited liability III. Publicity as required by the disclosure requirements of the Companies' Acts of 1948 and 1967 IV. Separate legal entity - may act in its own name

A dividend is the:

The membership of a partnership:

Which of the following business units must have a minimum of seven members?

The employees of Luxury Shoez Store pool their money at the end of every month and buy groceries at wholesale prices. They are operating a form of:

Which of the following is a characteristic of an ordinary partnership?

All of the following are legal requirements for the formation of a company EXCEPT:

Which of the following forms of business organisations has its board members nominated by a Minister of government?

Which of the following practices are characteristic of a free market economy? I Private ownership of assets II Central planning III Price fixing IV Freedom to contract