liability Flashcards
1
Q
what is meant by unlimited liability
A
finance from business are inseparable from owners finances
2
Q
what is limited liability
A
finances and all legal duty is stay within the business
3
Q
how are unlimited liability business financed
A
do not have access to share capital so have to use : owners capital trade credit bank finance leasing
4
Q
how are limited business financed
A
finance by : share capital bank business angels venture capital leasing
