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2 - E3 Page 65 Quiz Basic terms

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  • assets
    everything owned by a legal entity
  • wind up
    dissolve
  • liabilities
    any and all debts in company accounts
  • shareholder
    (part) owner
  • revenue
    income from business activity (before tax)
  • share capital
    money earnt from sale of securities
  • dissolve
    liquidating a business
  • buffet
    false friend for partnership/practice/chambers
  • partners
    co-owners of a LLP, such as a private legal practice
  • board
    composed of the directors (or perhaps partners) of the business
  • set up
    establish (a business)
  • stakeholder
    entity with an interest, finanical or otherwise in a business or activity
  • listed
    desctribes the state of a public company on a stock market
  • officers
    (senior) executives
  • benefits
    positive rewards or income from activity
  • dividend
    payments to shareholders (in PLCs) from revenue
  • firm
    synonym for business
  • to issue
    offer shares for sale
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