Business Outcome Lesson A

This type of business is funded by the government but pays employees.

(a)  

A person who is the exclusive owner of a business, entitled to keep all profits after tax has been paid but liable for all losses.​

• SoleTrader

• Partnership

• Co-operative

When two or more people come together to form a business. They all share responsibilities which are part of a written contract called a deed of...

• Partnership

• Co-Operative

• Agreement

Where a person has no limit to the amount of debt that they are responsible for. If someone working as a sole trader makes a loss and gets into debt, they are personally responsible for all of that debt. ​

• Unlimited Liability

• Limited Liability

• Unlimited Responsibility

• Limited responsibility

If a company gets into debt an individual shareholder is only responsible for the debt that matches the investment. ​

• Unlimited Liability

• Limited Liability

• Limited Responsibility

• Unlimited Responsibility

These companies are smaller businesses organised with shareholders who invest money to buy a share of the company. The shares of the company cannot be bought openly on the stock market... That Makes this company a ...?

• Public Company

• Co-operative Company

• Private Company

These companies tend to be larger businesses with shares offered for sale to  investors on the stock market. Shareholders can vote on general policies however the business is organised and run by a board of directors.​

• Private Company

• Public Company

• Co-operative

'................' is a business that is owned and run by its members.

• Private

• Public

• Co-Operative

• Public Business

Public Business is set up and run by...

• The Public

• The Government

• Private Investors

What do both Voluntary Businesses and Public Businesses have in common?