Private Limited Companies

Private Limited Companies are owned by

• Sole Traders

• Partners

• Shareholders

• The Government

Sole Traders have

• Unlimited Liability

• Limited Liability

Private Limited Companies have

• Limited Liability

• Unlimited Liability

Partnerships have

• Limited Liability

• Unlimited Liability

Sole Traders, Partnerships and Private Limited Companies are in which sector of the Economy?

• Private Sector

• Public Sector

• Third Sector

Which of the following 3 are Private Limited Companies?

• Colin Logan Building Contractors LTD

• Islay Hospital

• Aitchison LTD

• Mactaggart Leisure Centre

• B. Mundell LTD

Which of the following is the least complicated to set up?

• Sole Trader

• Partnership

• Private Limited Company

A sole trader gets to keep any profits made for themselves

• True

• False

How many People can be in a Partnership?

• Unlimited

• 2 only

• Between 2 & 20

• Between 2 & 10

The shareholders elect a Board of Directors to run a Private Limited Company

• True

• False