Business Ownership

Question 1

Companies House

Answer 1

Any limited company or partenship business has to register with companies House. These records are public and there is usually a fee to register.

Question 2

Deed of partenships

Answer 2

A document that is signed by all of the owners of a business setting out the terms they must abide by and their obligations as owners.

Question 3

Dividends

Answer 3

A sum of money paid regularly by a company to its shareholders out of its profits.

Question 4

Economies of scale

Answer 4

Where the average costs (of production, distribution and sales) fall as the business increases the amount of product that it produces, distributes and sells.

Question 5

Grant

Answer 5

A grant is money given to a business, usually by the government or lottery fund, that does not need to be paid back.

Question 6

Income tax

Answer 6

Tax that someone pays based on their personal income.

Question 7

Limited Liability

Answer 7

When the Business owner or owners are only responsible for business debts up to the value of their financial investement in the business.

Question 8

Profits

Answer 8

The amount of money made after all the costs are deducted.

Question 9

Partneship

Answer 9

Is a type of Business that has between 2 and 20 owners.