homework 4

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the legal responsibility of a business towards its debts
liabilty
1 of 5
when a business is owned by one person
sole traders
2 of 5
anys debts incurred by the business belong to the business
limited liability
3 of 5
owner is responsible for any debts of the business
unlimited liability
4 of 5
limited liability businesses are usually owned by
private limited companies
5 of 5

Other cards in this set

Card 2

Front

when a business is owned by one person

Back

sole traders

Card 3

Front

anys debts incurred by the business belong to the business

Back

Preview of the front of card 3

Card 4

Front

owner is responsible for any debts of the business

Back

Preview of the front of card 4

Card 5

Front

limited liability businesses are usually owned by

Back

Preview of the front of card 5

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