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