Business studied key terms flashcards

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Sole Trader
A business owned by one person
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Partnership
A business which is owned by more than one person and anything up to twenty
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Silent/sleeping partner
A person who has invested in a business but doe snot have an active roll in the company and how it is runned
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Deed of partnership
It is a legal agreement which is made by partners, which states the rolls and responsibilities.
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Entrepreneur
A person who takes a rsik by starting and running a buiness.
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Mission statement
It is a brief summary of the main objectives of a bsuiness or organisation.
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Stakeholder
An individual or group of epole who have an interest in a business.
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Unlimited liability
Owner of a business who are liable for it debts
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Limited liabilty
The owner of a business does not risk losing personal possessions in order to pay ff any debts of their business
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Private limited company (Ltd)
A business owned by stareholders
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Public limited company (plc)
A business owned by shareholders and shares in the business can be bought and sold without resticitions
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Dividend
A payment made to a shareholder from the profits made by a private or public limited company
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Board of directors
People usally elected by shareholders to represent their intests and make important decisions
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Other cards in this set

Card 2

Front

Partnership

Back

A business which is owned by more than one person and anything up to twenty

Card 3

Front

Silent/sleeping partner

Back

Preview of the front of card 3

Card 4

Front

Deed of partnership

Back

Preview of the front of card 4

Card 5

Front

Entrepreneur

Back

Preview of the front of card 5
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