Private limited Company and Public Limited Company Flashcards
1
Q
What is a private limited company?
A
When they have limited liability so if the business was to fail, the owners are not the ones liable to pay back anything it’s the business which is liable and not everyone of private limited company
2
Q
What is Public limited Company?
A
When they have unlimited liability so if the business was to fail the owners have full liability to pay back anything and anyone can buy shares
