business chapter 2 Flashcards
1
Q
what is types of businesses syllabus
A
types of businesses
classification: micro small medium large
local national global
industries
legal structure: sole trader partnership private company
factors influencing choice of legal structure
ownership,finance,size
2
Q
limited liability
A
a feature of corporate ownership that limits each owners financial liability to the amount of money he or her has paid for the businesses shares