business studies chapter 4 definitions.

HideShow resource information
  • Created by: Anusha5
  • Created on: 22-02-16 08:45
Sole trader
A type of business organisation run and managed by only one person who takes all decisions and keeps all of the profit.
1 of 13
partnership
A business organization run and managed by 2 people who share decision making, workload and profits.
2 of 13
private limited company
A limited business run by shareholders who invest in the business and receive the profits, often members of the same friends or family.
3 of 13
public limited company
A limited company run by shareholders who receiver all the profits. Its shares are offered to the general public.
4 of 13
Franchises
When a company buys the logo, product, and name of a well known brand.
5 of 13
joint venture
Two or more businesses agree to work together on a project and set up a different company for this purpose.
6 of 13
public corporation
a company owned and controlled by the state.
7 of 13
Unincorporated business
A business which does not have a legal identity separate from its owners. The owners have unlimited liability for the debts of the business.
8 of 13
Unlimited liability
If a business goes into debts, the owner may have to give up their personal assists in order to compensate for that.
9 of 13
Ordinary shareholders
The owners of a limited company who invest in it.
10 of 13
Limited liability
the owners of a limited company only risk losing the amount they have invested in the business.
11 of 13
dividends
the payment out of profits to shareholders as a reward for investing in the company.
12 of 13
collateral
Non-current assests offered as security against borrowing.
13 of 13

Other cards in this set

Card 2

Front

A business organization run and managed by 2 people who share decision making, workload and profits.

Back

partnership

Card 3

Front

A limited business run by shareholders who invest in the business and receive the profits, often members of the same friends or family.

Back

Preview of the back of card 3

Card 4

Front

A limited company run by shareholders who receiver all the profits. Its shares are offered to the general public.

Back

Preview of the back of card 4

Card 5

Front

When a company buys the logo, product, and name of a well known brand.

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all business studies chapter 4 resources »