Limited companies Flashcards
What does PLC stand for
Public Limited Company
what is limited liability
The debts of the business are limited to the amount that the shareholder has put in
what is unlimited liability
where you are responsible for all the businesses debts
what is a sole trader
A business owned by 1 person
What is a partnership
A business set up by 2 people
what does LTD stand for
Private limited company
what is a deed of partnership
a document setting out the operations of the partnership
What is Capital
Money raised by the business
Sleeping partner
a partner who invests in a partnership but has no intention of running a business
Who are Shareholders
Are owners of a private or public limited company
What is the difference between a PLC and a LTD.
A PLCs shares can be accessed and bought by the public, whereas LTD shares are private to family and friends.
What is a Dividend
A dividend is the money paid to a share holder from the profits of a limited company
What does a Public Limited Company have to have in the businesses name
The words ‘Public limited Company’ or ‘PLC’
What does a Private Limited Company have to have in the businesses name
The words ‘ Private Limited Company’ or ‘LTD’
Does setting up a Sole traders require little or a lot of paperwork
It requires little paperwork
