Business Studies · Forms of Business Organisations
Which of the following statements is true regarding business organizations?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Limited company status means that a company is only allowed to trade up to a predetermined turnover level in any one year.
- 2For organisations that have limited company status, ownership and control are legally separate.✓
- 3The benefit of being a sole trader is that you have no personal liability for the debts of your business.
- 4Ordinary partnerships offer the same bene fits as limited companies but are usually formed by professionals such as doctors and so licitors.
Correct answer
For organisations that have limited company status, ownership and control are legally separate.
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