CH7 - LEGAL STRUCTURES Flashcards
0
Q
Incorporated Business
A
Has a legal entity that is separate the individual owners. Any debts are payable only up to share value.
1
Q
UNINCORPORATED BUSINESS
A
No distinction in law between the owner and the business itself.
SOLE TRADER
PARTNERSHIP
2
Q
Unlimited Liability
A
Owners of the business are liable for all debts that the business may incur.
3
Q
Ownership
A
Providing finance and therefore taking risk.
4
Q
Control
A
Managing the organisation and making decisions.
5
Q
Stakeholders
A
Individuals with an interest in the success of the business.
6
Q
Divorce of ownership
A
Xx
7
Q
BOD
A
Xxx
8
Q
AGM
A
Xxx
9
Q
Corporate Governance
A
Cc
