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