EBE W1 Recap

Organisational Structure is

• The legal ownership structure of the business.

• a marketing strategy for product launch
• a financial plan for the organization
• a method for hiring new employees

Liability is

• Liability is a type of insurance coverage.
• Liability is a form of investment.
• Liability is a method of tax evasion.
• The obligations and debts that are owed

Unlimited Liability is

• A type of insurance for business owners.
• A business structure with limited liability for owners.
• A legal term for business partnerships.
• The debts of the business are the same as the debts of the owner

Limited Liability is

• a strategy for maximizing business profits without legal consequences.
• a legal structure that protects personal assets from business liabilities.
• a type of insurance for business owners.
• a method to increase personal wealth through business risks.

Which TWO business structures have unlimited liability

• Sole Trader

• Private Limited Company

• Partnership

• Public Limited Company

Which two business structures have limited liability

• Sole Trader

• Partnership

• Private Limited Company

• Public Limited Company

Which business type has the easiest access to capital?

• Sole Trader

• Partnership

• Private Limited Company

• Public Limited Company

Which business type is most common?

• Sole trader

• Partnership

• Private Limited Company

• Public Limited Company