Key Words Flashcards
1
Q
Unlimited liability
A
They are personally responsible for all there debts by the business
2
Q
Sole trader
A
A person who owns and runs their own business e.g hairdresser
3
Q
Assets
A
Something you own you can sell for cash
4
Q
Debts
A
Where you owe money to a 3rd party
5
Q
Capital
A
Money
6
Q
Limited finance
A
You are eligible for a small amount of money from loners because of your credit history eg you went bankrupt
7
Q
What does steeple stand for
A
Social Technological Environmental Ethical Political Legal Economic
