PC4.3 - Practice structures, legal status and business styles Question Title * 1. Which of the following offers Unlimited Liability as a business structure? Sole Trader Employee Ownership Trust Limited Company Limited Partnership Question Title * 2. In which of the following might the business owners be jointly and severally liable? Sole Trader Partnerships Limited Company Limited Partnership Question Title * 3. Which of the following is a disadvantage of Limited Companies as a practice structure? Expensive to form Annual accounts and financial reports are available within the public domain Requires minimum two people Inflexible changes to organisational structure Question Title * 4. Which of the following practice structures are a separate legal entity? Sole Trader Partnership Limited Company Unlimited Partnership Question Title * 5. Which of the following is not a key benefit of Employee Ownership Trusts? Tax-free from Capital Gains Tax-free bonuses up to £3,600 Inviting non-executive board members to promote growth and innovation Succession planning Done