Unit 1 Flashcards
1
Q
What are the 3 business forms?
A
Sole Traders, Private Ltd, Plc
2
Q
What are limited and unlimited liability?
A
Limited - incorporated + legally separate from shareholders
Unlimited - unincorporated + bound to business owners
3
Q
What is a private firm?
A
Owned by private individuals
4
Q
What is a public firm?
A
State provision of a firm for a specific purpose
5
Q
What is a share?
A
Individual part of the total share capital
6
Q
What is market capitalisation?
A
Total market value of the issued share capital of a company
7
Q
What is share capital?
A
The total equity raised through the sale of shares
