Business Ownership Flashcards
1
Q
A soletrader is a business owned and run by.
A
1 person.
2
Q
What type of liability do soletraders have
A
Unlimited
3
Q
What is liability?
A
Something a person or company owes. Normally a sum of money
4
Q
Partnerships have between
A
2 and 20 owners
5
Q
The partners of a partnership agree to a set of rules called the
A
Deed of partnership
6
Q
PLD stands for
A
Private limited companies
7
Q
What is a share?
A
A portion of the company that can be bought
