Types of business organization

Description

Cambridge IGCSE Business Flashcards on Types of business organization , created by Akari Yamada on 04/05/2014.
Akari Yamada
Flashcards by Akari Yamada, updated more than 1 year ago
Akari Yamada
Created by Akari Yamada almost 10 years ago
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Resource summary

Question Answer
Sole trader A business owned and operated by just one person
Partnership Business in which two or more people agrees to jointly own a business
Private limited company Type of company that offers limited liability for its shareholders
Unlimited liability Means that owners can be held personally accountable for a business's debt
Shareholders Owners of a limited company. They buy shares which represents part ownership of a company
Public limited company Type of company whose share may be freely bought and sold to the public
Dividends Payment made to the shareholder in return for investing in the company through purchases of shares
Joint venture When two or more business agrees to start a new project together
Franchising Right granted to an individual/group to market a company's goods or service
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