Day: January 25, 2018

Business Studies Multiple Choice Question – 25 January 2018

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Which ONE of the following is a true statement about an ‘ordinary’ partnership?

Select ONE answer only:

  1. Day to day management is usually shared
  2. A partnership can only be owned by two people
  3. The owners have a separate legal identity to the business
  4. The owners have limited liability
  5. The owners do not pay taxes

Which UK act of parliament covers Partnerships?

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS4 classes.

The answer is 1 – An ordinary partnership can be owned by more than two people. None of the owners has a separate legal identity from the business; each owner has unlimited liability, which means an owner’s personal assets are not protected if business assets are insufficient to pay off business debts.

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