Business key terms

HideShow resource information
  • Created by: bob3344
  • Created on: 20-12-15 16:07
A business
a business is an organisation which exists in order to satisfy a customers needs and/or wants, usually for a profit by providing goods or services e.g McDonald's
1 of 5
Sole Trader
A person who is the exclusive owner of the business, entitled to keep all profits after tax has been paid e.g newsagent
2 of 5
Partnership
A business organisation in which two or more individuals manage and operate the business. Both owners are equally and personally liable for the debts of the business.
3 of 5
Private Limited Company
A private limited company is often a small business such as a small businesses such as an independent retailer. LTD's have their own legal identity and they aren't liable for firms depts.
4 of 5
Public Limited Company
A limited liability business with £50,000 + of share capital and a wide spread of shareholders. (Shares are trading on the stock exchange)
5 of 5

Other cards in this set

Card 2

Front

Sole Trader

Back

A person who is the exclusive owner of the business, entitled to keep all profits after tax has been paid e.g newsagent

Card 3

Front

Partnership

Back

Preview of the front of card 3

Card 4

Front

Private Limited Company

Back

Preview of the front of card 4

Card 5

Front

Public Limited Company

Back

Preview of the front of card 5

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all - resources »