Jo is a sole trader. Her business owes suppliers £20,000. All the business's assets are sold for £6,000 and the money goes towards the debt. How much could Jo still have to pay from her own savings and possessions?
Question 21 mark
GCSE Business: AQA 8132 and Edexcel 1BS0
Spec and skills
Paper scope: AQA Papers 1 and 2 · Edexcel Paper 1
Spec AQA 3.1.2
Spec Edexcel 1.4.1
Spec Edexcel 2.1.1
Topic spec AQA 3.1.2
Topic spec Edexcel 1.4.1
Topic spec Edexcel 2.1.1
Skill: limited-liability
Learning check
Sam paid £5,000 for shares in Kestrel Cycles Ltd. The company collapses owing £90,000. What is the most Sam can lose?
Question 31 mark
GCSE Business: AQA 8132 and Edexcel 1BS0
Spec and skills
Paper scope: AQA Papers 1 and 2 · Edexcel Paper 1
Spec AQA 3.1.2
Spec Edexcel 1.4.1
Spec Edexcel 2.1.1
Topic spec AQA 3.1.2
Topic spec Edexcel 1.4.1
Topic spec Edexcel 2.1.1
Skill: partnership
Learning check
Which is a drawback of a partnership compared with being a sole trader?
Question 41 mark
GCSE Business: AQA 8132 and Edexcel 1BS0
Spec and skills
Paper scope: AQA Papers 1 and 2 · Edexcel Paper 1
Spec AQA 3.1.2
Spec Edexcel 1.4.1
Spec Edexcel 2.1.1
Topic spec AQA 3.1.2
Topic spec Edexcel 1.4.1
Topic spec Edexcel 2.1.1
Skill: plc
Learning check
What is the main difference between a private and a public limited company?
Question 51 mark
GCSE Business: AQA 8132 and Edexcel 1BS0
Spec and skills
Paper scope: AQA Papers 1 and 2 · Edexcel Paper 1
Spec AQA 3.1.2
Spec Edexcel 1.4.1
Spec Edexcel 2.1.1
Topic spec AQA 3.1.2
Topic spec Edexcel 1.4.1
Topic spec Edexcel 2.1.1
Skill: plc
Learning check
Which is a risk of becoming a public limited company?
Question 6AQA1 mark
GCSE Business: AQA 8132 and Edexcel 1BS0
Spec and skills
Paper scope: AQA Papers 1 and 2 · Edexcel Paper 1
Spec AQA 3.1.2
Spec Edexcel 1.4.1
Spec Edexcel 2.1.1
Topic spec AQA 3.1.2
Topic spec Edexcel 1.4.1
Topic spec Edexcel 2.1.1
Skill: not-for-profit
Learning check
What does a not-for-profit organisation, such as a charity, do with any surplus it makes?
