What Is business Flashcards
1
Q
What are business objectives
A
- Profitability: The business needs to make some money or it won’t be able to pay for it’s cost.
- Growth: Achieve growth, this can bring in more money for the business and increase it’s market share
- Stability: The business needs to be able to continue running. This makes it easier to handle changes in the market or unexpected events.
- Efficiency: The business should always aim to achieve the best result in their market for as cheap as possible.
- Survival: The business should be able to continue for a long-term, and handle and problems that they might face.
2
Q
What the difference between limited and unlimited liability
A
- Businesses with more then 1 owner have limited liability
- Unlimited liability is when a businesses with a single or joint owner are responsible for all of the businesses financial and non-financial liability.
