Topic one Q+A cards

1) Name three advantages of a Private Limited Company?

Legal Formalities, Increased Start-up Capital and Limited Liability

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2) Name three disadvantages of a Partnership?

Disagreements( takes longer for decisions to be made), Profit Sharing, Unlimited Liability

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3) What is a sleeping partner?

A sleeping partner is someone who invests in a business but doesn't have dealings in the running of the business.

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4) What is a sole trader?

A sole trader is one person who owns and runs a business.

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5) What does a Franchise do?

It allows someone to buy into an already established business, they pay a business to use their name and sell their products.

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6) Name three disadvantages of a Charity?

Still need to pay VAT, limited training, time consuming.

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Other cards in this set

2) Name three disadvantages of a Partnership?

Disagreements( takes longer for decisions to be made), Profit Sharing, Unlimited Liability

3) What is a sleeping partner?

4) What is a sole trader?

5) What does a Franchise do?

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