Ownership

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What is the basic description of a Sole Trader?
It is only owned by one person. (also known as self-employed)
1 of 6
Which businesses have unlimited liability?
Sole trader and Partnership
2 of 6
What is the basic description of a Private Limited (LTD) company?
Tend to be small, name ends in Ltd., shares can only be transferred 'privately'.
3 of 6
Name three advantages of being a public limited company (plc)
Large amount of capital due to shares, can gain E.O.S, usually can dominate the market
4 of 6
Name three disadvantages of being a Private Limited Company (LTD)
Profits shared among larger members, legal procedures, cannot sell shares to the public
5 of 6
Who owns a co-operative?
The workers and members
6 of 6

Other cards in this set

Card 2

Front

Which businesses have unlimited liability?

Back

Sole trader and Partnership

Card 3

Front

What is the basic description of a Private Limited (LTD) company?

Back

Preview of the front of card 3

Card 4

Front

Name three advantages of being a public limited company (plc)

Back

Preview of the front of card 4

Card 5

Front

Name three disadvantages of being a Private Limited Company (LTD)

Back

Preview of the front of card 5
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