1.3 Sole traders, Partnerships, Social enterprises and Franchises Flashcards
1
Q
deed of partnerships
A
legal document that states the form rights of partners:
- capital each will provide
- profits and losses shared
- procedure to end partnership and rules to take in new
- control each partner has
2
Q
audits
A
official examination of a company’s financial record in order to check that they are correct
3
Q
merchandise
A
goods that are being sold
4
Q
accountable
A
responsible for the effects of your actions, and willing to explain or be criticised for them
5
Q
social enterprise
A
business that aims to improve human or environmental well-being. Don’t have an objective of making profit, instead of being more aware of costumers needs
6
Q
cooperative
A
company in which all people working own an equal part. owned by members
7
Q
worker cooperative
A
cooperative owned by its employees
8
Q
consumer cooperative
A
cooperative that is owned by its costumers
