Business Ownership Structures

The numbers of shareholders in a private limited company

• 1-99

• 2-99

• 1-149

• 149+

The liability that partners in a partnership have

• Unlimited

• Limited

• Legal

• Liquid

Two disadvantages of a sole trader are

• Unlimited liability

• Limited liability

• When the owner dies the business dies

• Decisions are made faster

The minimum number of partners in a partnership is

• 2

• 10

• 20

• 149

The name given to a share of the profits is called

• Share capital

• Investment

• Equity

• Dividend

Identify two advantages of a sole trader

• Makes all the decisions

• Keeps all of the profits

• Continues to operate after death

• Limited liability

A private limited company's name ends in the letters

• plc

• Ltd

• Co

• & Sons

True or false - sole traders are easy to set up

• True

• False

If the business fails, you will only lose the moeny you've invested in the business. This is called ________ liability

The owners of a private limited company are called

• members

• shareholders

• customers

• partners