Task 2 LO1

A Public Limited Company (Plc) A Private Limited Company (Ltd) A Sole Trader, A Franchise A Partnership, A Limited Liability Partnership (LLP)

Are all examples of Privately or Publicly owned organisations?

• Public

• Privately

• Both

Central government funded businesses Local government funded businesses Membership business that receive public funding.

Are all Examples of Privately or public owned organisations?

• Privately

• Publicly

• Both

True or False?

In the UK the majority of state controlled organisations have been privatised

• True

• False

True or False

The aim of a publicly owned company is usually to provide a service rather than make a profit

• False

• True

Is this statement true or false? Most travel and tourism organisations fall into the private sector.

• True

• False

• Private sector companies are what we refer to as commercial companies – they exist to make a profit

• False

• True

• All theme parks, restaurants, tour operators and travel agents in the UK are publicly run

• True

• False

A sole trader is a company owned by more than one person?

• True

• False

A sole trader is personally responsible for all debts and money owed by the business - unlimited liability.

True of false?

• True

• False

A partnership company consist of 2-20 owners.

• False

• True