Business Structures Flashcards
1
Q
What is unlimited Liability
A
If the business fails, personal assets of the owner can be used to repay business debts
2
Q
What is limited liability
A
If the business fails, personal assets of the owner cannot be used to repay business debts
3
Q
What is 2 advantages of a Soletrader
A
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4
Q
What is 2 advantages of a Partnership
A
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5
Q
What is 2 advantages of a Company
A
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6
Q
What is 2 disadvantages of a Soletrader
A
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7
Q
What is 2 disadvantages of a Partnership
A
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8
Q
What is 2 disadvantages of a Company
A
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