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Business Legal Structures - Yr 13 Flashcards | StudBud

Explore/Business Legal Structures - Yr 13

Business Legal Structures - Yr 13

10 terms·StudBud Administration·561 plays

3.7.4 Analysing the external environment to assess opportunities & threats. Political & legal change

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Questions 10

Answers

1
Virgin Atlantic, River Island, Kwik Fit and Iceland are all examples of...?
Public Limited companies
Unincorporated Business
Incorporated Business
Private Limited Companies
2
A small to medium sized business that is run by the family or small group of individuals
Public Limited Company
Partnership
Sole trader
Private Limited company
3
A situation in which the owners of a business are liable for all of the debts that they have
Insolvency
Limited Liability
Unlimited Liability
Liquidation
4
In a Partnership you can not...
You can share the financial risks
Raise money through selling shares on the Stock Market
Bounce ideas off each other
Grow the business quicker than a Sole trader
5
Legal structure is an example of...
How a company follows some legal structure
How a company is registered with their council
How a company is legally set up
How a company obeys the law
6
An individual with an interest in the business is called a...
Financial Controller
Shareholder
Stakeholder
Nosey parker!
7
Which structure is easy and cheap to set up, with few legal formalities?
Partnership
Public Limited Company
Private Limited Company
Sole Trader
8
Which of these trades shares on the Stock Market?
Sole Traders
Public Limited Companies
Private Limited companies
Partnerships
9
A Disadvantage of a Sole Trader is...?
If your ill you do not get paid
You can not beat your competitors
You can not employ anyone else
You get to keep all of the profits
10
Legally a Partnership has between...
2-39 People
2-20 people
1-20 people
1-5 people