1
1 mark
Identify which characteristic describes a public sector organisation.
Exists to make a profit
Exists to serve the community
Owned by a sole trader
Owned by a partnership
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Types of Business Organisation (Edexcel IGCSE Accounting: Introduction to Bookkeeping & Accounting): Exam Questions
Exam code: 4AC1
17 mins5 questions
2a
2 marks
State one difference between the objectives of private sector organisations and public sector organisations.
2b
3 marks
Identify three stakeholders that may have an interest in the financial statements of a private sector organisation.
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3
2 marks
State one advantage and one disadvantage of forming a partnership.
Advantage .........................................
Disadvantage .....................................
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4a
2 marks
State two advantages of operating a business as a sole trader.
4b
2 marks
State two stakeholders who may be interested in a business’s financial statements.
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5
5 marks
Evaluate whether a sole trader should form a partnership.
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