Business Flashcards

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Sole trader
a person who is the exclusive owner of a business, entitled to keep all profits after tax has been paid but liable for all losses.
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Partnership
an association of two or more people as partners.
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Franchise
an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, for example acting as an agent for a company's products.
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Private Limited Company
a type of privately held small business entity. This type of business entity limits owner liability to their shares, limits the number of shareholders to 50, and restricts shareholders from publicly trading shares.
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Public Limited Company
The standard legal designation of a company which has offered shares to the general public and has limited liability. A Public Limited Company's stock can be acquired by anyone and holders are only limited to potentially lose the amount paid for the
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Charity
an organization set up to provide help and raise money for those in need.
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Other cards in this set

Card 2

Front

an association of two or more people as partners.

Back

Partnership

Card 3

Front

an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, for example acting as an agent for a company's products.

Back

Preview of the back of card 3

Card 4

Front

a type of privately held small business entity. This type of business entity limits owner liability to their shares, limits the number of shareholders to 50, and restricts shareholders from publicly trading shares.

Back

Preview of the back of card 4

Card 5

Front

The standard legal designation of a company which has offered shares to the general public and has limited liability. A Public Limited Company's stock can be acquired by anyone and holders are only limited to potentially lose the amount paid for the

Back

Preview of the back of card 5
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