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CEEP Mindset 2 | Unit 5 | Speaking & Listening | ...

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  • 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?
    Only the work
    Profits and responsibilities
    Only the profits
  • What does 'summarise' mean?
    To make something longer
    To give the main points in a shorter form
    To add up numbers
  • 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 does it mean to 'borrow money' for a business?
    To ask friends for free money
    To steal money
    To get a loan from a bank or lender
  • What does 'limited liability' mean?
    You have limited control over the business
    You can only work limited hours
    Your personal possessions are protected from business debts
  • What does 'pay debts' mean?
    To count your money
    To receive money from customers
    To give money that you owe to others
  • What does 'advantage' mean?
    A type of business structure
    A benefit or positive point
    A problem
  • What is Companies House?
    The official UK government body that registers companies
    A website for business advice
    A building where companies meet
  • What does 'structure' mean in business?
    The building where business operates
    How a business is organized and set up
    The products a business sells
  • What does 'disadvantage' mean?
    A negative point or problem
    A benefit
    A business opportunity
  • What is a 'contract'?
    A type of business
    A legal agreement between two parties
    A building plan
  • What are 'accounts' in business?
    Lists of customers
    Financial records showing money in and out
    Stories about the business
  • What does 'contrast' mean?
    To show the differences between things
    To start a new business
    To make a legal agreement
  • What are 'personal possessions'?
    Things you borrow from others
    Things you own like your house and car
    Things the company owns
  • What does 'employ' mean?
    To start a business
    To use equipment
    To hire someone to work for you
  • Which tax do sole traders typically pay?
    Corporation tax
    Income tax
    Business tax
  • What is 'corporation tax'?
    Tax on buying products
    Tax paid by limited companies on their profits
    Tax paid by individuals
  • What does 'compare' mean?
    To compete with others
    To buy something
    To look at similarities and differences
  • What are 'earnings'?
    The money you make from work or business
    The things you learn
    The hours you work
  • What does 'straightforward' mean?
    Moving in a straight line
    Honest and direct
    Simple and easy to understand
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