L01-ownership

Question 1

sole trader

Answer 1

-one owner
-unlimited liability
-full control
-private sector

Question 2

partnership

Answer 2

-2 or more owners
-unlimited liability
-joint control
-private sector
-Deed of partnership

Question 3

Private limited company ( LTD )

Answer 3

-one or more shareholders
-shares bought/sold privately
-limited liability
-directors control business
-private sector

Question 4

Public limited company ( PLC )

Answer 4

-two or more shareholders
-shares bought/sold on stock exchange
-limited liability
-Directors run company for shareholders
-private sector

Question 5

State/Gov owned companies

Answer 5

-public sector
-aims/objectives set by gov
-limited liability
-owned by state controlled by gov