3.1.2 Understanding business forms

NHS is in which sector

• Public

• Private

• Voluntary

Nike is an unincorporated business

• True

• False

A sole trader will have (a)   liability

Advantages of a sole trader

• Creativity

• Control

• limited LIABILITY

• unlimited LIABILITY

Which have limited liability

• Sole Trader

• PLC

• Partnership

• LTD

Private limited companies can advertise shares

• True

• False

(a)   is a share of profits allocated to shreholders

Examples of mutual organisations

• Nationwide

• John Lewis

• Co-op

• Halifax

Why might an entrepreneur choose to be a sole trader instead of forming a LTD

• Control

• Sell shares

• Freedom

• Investors

(a)   is the share index of the 100 companies listed on the London stock exchange