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Business Management•Nature of Business

Business Basics and Types

Senior High 6 questions
AI-drafted from platform data — specialist review scheduledBy DigiTransact Mastermind editorial team
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What business basics and types means

The meaning of business and the main forms of business ownership.

Worked example

One question from this skill's own question bank, shown with its full working.

Question

A business owned and controlled by one person is a...

  • partnership
  • sole proprietorship
  • limited company
  • cooperative
Answer: sole proprietorship

Working: A sole proprietorship is owned and run by a single individual who bears the risks and takes the profit.

Curriculum and exam alignment

Ghana GES SHS syllabusWASSCE

Curriculum notes are a general guide to where this work normally sits. Always check the syllabus your school or examination body is currently using.

Related skills

Other Nature of Business skills in Business Management, at the same point in the course.

Other Business Management topics

Management FunctionsFinance and CommunicationEntrepreneurship & MarketingWASSCE Past QuestionsUniversity Management & Marketing

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Exams that assess business basics and types

Senior High work on this skill feeds directly into these exam papers. Each page lists the Business Management topics that appear on it.

WASSCEWASSCE practice questionsFree WASSCE practice across the subjects at this stage, with worked answers.GESGES practice questionsFree GES practice across the subjects at this stage, with worked answers.ACCAACCA practice questionsListed as a related subject on the ACCA practice page.

How this page was produced

This text was drafted with AI assistance from the questions and topics already stored on the platform. A subject-specialist review is scheduled but has not yet been recorded, so we do not claim it here.

Written by
DigiTransact Mastermind editorial team
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6 questions with a worked answer after every attempt, and a SmartScore that tracks how close you are to mastery.

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