Types of Businesses Flashcards
1
Q
What is a Sole Proprietorship?
A
A sole proprietorship is a business owned and controlled by a single person.
2
Q
What is a Partnership?
A
A partnership is a business organisation formed by two to twenty people
3
Q
What is a Private Joint Stock Company?
A
A private join stock company is a business with 50 or fewer shareholders where shares cannot be bought or sold in the stock exchange.
4
Q
What is a Cooperative?
A
A cooperative is an enterprise that is jointly owned and controlled by group of persons who have set up the enterprise to meet their economic needs.
