Definition
Define a company
What is - A company is a business entity that has been incorporated, that is, it has a separate legal identity from its owners.
Personal Control is an advantage of which type of business?
What is - Sole trader / proprietorship
Capital is limited since the membership is limited to fifty.
What is - private limited liabilty
Which document contains the company's name?
What is - Memorandum of Association
The owners manage this type of business or may appoint specialized personnel.
What is - Private limited company
Define a private limited company
What is - An incorporated business organization consisting of 2 to 50 members. membership is restricted to close friends and family.
Continuity is an advantage of which types of business?
Partnership
Cooperatives
Private Limited Company
Public Limited Company
The legal requirements may be costly and time-consuming.
What is - Public Limited Company
Which document covers the rights and obligations of the Directors of the company
What is - Articles of Association
Shareholders elect a Board of Directors at the Annual General Meeting. The Board manages the company.
What is - Public Limited Company
Define a public limited company
Wha is it - An incorporated business organization with at least 7 members that offers shares to the public. There is no limit on the maximum number of shareholders.
Shares can be quoted on the Stock Exchange and sold to the public
What is - Public Limited Liability
Selling of shares is restricted to the private grouping.
Private Limited Company
Which document contains the maximum amount which the company is authorized to raise?
What is - The Statement of Authorized, Registered or Nominal Capital
Define a multinational corporation
What is - These are also called transnational corporations and are a network of firms that operate in multiple countries but are owned and controlled by a single group of shareholders.
This is an invitation to the public to buy shares in a public company.
What is prospectus
Define limited liability...
What is - The investor/owner/partner loses only the amount invested in the business.