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 works alone in an office
A person who runs a business by themselves
In a partnership business structure what do the owners share?
Profits and responsibilities
Only the profits
Only the work
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?
Business tax
Corporation tax
Income tax
What does it mean to 'borrow money' for a business?
To get a loan from a bank or lender
To steal money
To ask friends for free money
What are 'personal possessions'?
Things you own like your house and car
Things you borrow from others
Things the company owns
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 website for business advice
A building where companies meet
The official UK government body that registers companies
What does 'employ' mean?
To start a business
To hire someone to work for you
To use equipment
What are 'earnings'?
The money you make from work or business
The hours you work
The things you learn
What does 'pay debts' mean?
To receive money from customers
To give money that you owe to others
To count your money
What are 'accounts' in business?
Financial records showing money in and out
Lists of customers
Stories about the business
What does 'straightforward' mean?
Simple and easy to understand
Honest and direct
Moving in a straight line
What is a 'contract'?
A legal agreement between two parties
A type of business
A building plan
What does 'advantage' mean?
A benefit or positive point
A problem
A type of business structure
What does 'disadvantage' mean?
A business opportunity
A negative point or problem
A benefit
