Unit 1 - 1.4 (factors which inform business ownership) Flashcards
1
Q
Legal Status
A
Whether the business is a separate legal entity from owner (liability) will inform the form of ownership.
2
Q
Liability
A
Whether the business has limited or unlimited liability will inform the form of ownership.
3
Q
Funding
A
The source of funds supporting the business will inform the form of ownership.
4
Q
Control/Decision making
A
The level of control the owner has over decisions made regarding the business will inform the form of ownership.
5
Q
Legal/Administrative requirements
A
The legal steps needed and their length and expense will inform the form of ownership.
