Share CEEP Mindset 2 | Unit 5 | Speaking & Listening | Lead-in
Save to Folder
What does 'sole trader' mean?
A person who sells shoes
A person who runs a business by themselves
A person who works alone in an office
In a partnership business structure what do the owners share?
Only the profits
Only the work
Profits and responsibilities
What does 'limited liability' mean?
You have limited control over the business
Your personal possessions are protected from business debts
You can only work limited hours
Which tax do sole traders typically pay?
Business tax
Corporation tax
Income tax
What does it mean to 'borrow money' for a business?
To steal money
To get a loan from a bank or lender
To ask friends for free money
What are 'personal possessions'?
Things the company owns
Things you own like your house and car
Things you borrow from others
What does 'register' a business mean?
To advertise your business
To officially record your business with the government
To write down your business ideas
What is Companies House?
A building where companies meet
A website for business advice
The official UK government body that registers companies
What does 'employ' mean?
To use equipment
To start a business
To hire someone to work for you
What are 'earnings'?
The things you learn
The money you make from work or business
The hours you work
What does 'pay debts' mean?
To count your money
To receive money from customers
To give money that you owe to others
What are 'accounts' in business?
Stories about the business
Financial records showing money in and out
Lists of customers
What does 'straightforward' mean?
Honest and direct
Simple and easy to understand
Moving in a straight line
What is a 'contract'?
A type of business
A legal agreement between two parties
A building plan
What does 'advantage' mean?
A type of business structure
A problem
A benefit or positive point
What does 'disadvantage' mean?
A business opportunity
A benefit
A negative point or problem
