Share CEEP Mindset 2 | Unit 5 | Speaking & Listening | Lead-in
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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 work
Only the profits
Profits and responsibilities
What does 'limited liability' mean?
You can only work limited hours
You have limited control over the business
Your personal possessions are protected from business debts
Which tax do sole traders typically pay?
Corporation tax
Income tax
Business 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 officially record your business with the government
To write down your business ideas
To advertise your business
What is Companies House?
A building where companies meet
The official UK government body that registers companies
A website for business advice
What does 'employ' mean?
To use equipment
To hire someone to work for you
To start a business
What are 'earnings'?
The hours you work
The money you make from work or business
The things you learn
What does 'pay debts' mean?
To count your money
To give money that you owe to others
To receive money from customers
What are 'accounts' in business?
Stories about the business
Financial records showing money in and out
Lists of customers
What does 'straightforward' mean?
Moving in a straight line
Simple and easy to understand
Honest and direct
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 negative point or problem
A benefit
