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1.Which one of the following statements is true?
A Limited company status means that a company is only allowed to trade up to a predetermined turnover level in any one year.
B For organisations that have limited company status, ownership and control are legally separate.
C The benefit of being a sole trader is that you have no personal liability for the debts of your business.
D Ordinary partnerships offer the same benefits as limited companies but are usually formed by professionals such as doctors and solicitors. (2 marks)
2.An organisation is owned and run by central government agencies. The organisation is best described as
which of the following statements?
A A voluntary sector organisation
B A private sector organisation
C A public sector organisation (1 mark)