8. Forms of business ownership Flashcards
1
Q
Limited liability
A
Each shareholder is only liable for the original amount of money invested
2
Q
Sole trader
A
Owned and controlled by 1 individual
3
Q
Partnership
A
2 or more partners have ownership of a business
4
Q
Private Limited Company (LTD)
A
Small to medium, not listed on stock exchange
5
Q
Public Limited Company (PLC)
A
large, listed on the stock exchange
6
Q
Limited Companies
A
Separate legal entity, managed by directors
7
Q
Social Enterprise
A
Social objectives; surpluses reinvested in community
8
Q
Charities within voluntary sector
A
create a social impact and maximise profit
