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15
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What is unlimited liability?
Business owners are personally responsible for all the company's debts
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What do we call legal entity?
A business, organization or person that can own property, enter contracts, and be sued
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Which company type keeps its shares private and cannot sell them to the public?
Private limited company
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If each partner can be held responsible for all debts, what is this called?
Joint and several liability
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What is the term for a company’s profit paid to shareholders?
Deividend
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When shareholders are only responsible for the amount they invested, what do we call this type of business?
Limited liability
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heart
Other team wins 25 points!
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fairy
Take points!
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25
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shark
Other team loses 5 points!
Okay!
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baam
Lose 25 points!
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If you buy part of a company to become a partial owner, what do you buy?
Shares
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banana
Go to last place!
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gold
Win 50 points!
Okay!
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shark
Other team loses 15 points!
Okay!
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baam
Lose 25 points!
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banana
Go to last place!
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gold
Win 50 points!
Okay!
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rocket
Go to first place!
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thief
Give points!
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25
15
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Provide explanation of "public limited company"
A company that can sell its shares to the public and is usually large
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Which type of partnership protects partners’ personal assets from company debts?
Limited liability partnership
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Anna and Ben run a bakery together and share profits ,losses and responsibilities.What type of business structure do they have?
Partnership
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What tax do companies pay on their profits?
Corporation tax
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What do we call the person who shares ownership and decision-making in a partnership?
Partner
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f you run your own café alone and are responsible for all debts, what are you?
Sole trader
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