Private Sector Organisations

Which of the following would be involved in a Private Limited Company?

• Shares are issued to the public

• Owners are limited to 20 people

• Shareholders are often family members

• All of the options

Which of the following is a disadvantage to being a Private Limited Company?

• Limited liability

• Unlimited liability

• Shares cannot be issued to the public

• Limited to only 20 people

When profits are shared between shareholders. This is called a ...................

An advantage of being a Private Limited Company is.....

• Profits are not shared

• Financial records must be published each year

• Easier to raise money

• Limited capital

An abbreviation for Private Limited Company is.....

• PLC

• LPC

• LTD

• Priv

A partnership can have between 2 and 30 partners!

• TRUE

• FALSE

A loan from family and friends is a source of finance you would usually see from a ........ .............

Being personally liable for all the business debt is called........

• Limited Liability

• Unlimited Capital

• Unlimited Liability

• Limited Capital

What are the types of organisation that have unlimited liability?

• Partnership

• Sole Trader

• Private Limited Company

• Sole Trader and Partnership

................ ................ is when a company goes out of business and you only lose what you have invested.