Features
How many partners can a partnership have at minimum and maximum?
Minimum 2, Maximum 20
One advantage of forming a partnership.
Easy to form / Shared responsibilities / Privacy of affairs
What is a partnership deed?
A legal document governing rights, profit sharing, and dissolution in partnerships
What type of partnership is common among doctors and lawyers?
General Partnership
Name one partnership in Belize.
Barrow and Williams LLP / Pen Cayetano Studio Gallery,
In a partnership, who provides the primary source of finance?
The partners themselves
One disadvantage of partnerships.
Unlimited liability / Lack of continuity / Conflicts
hat document outlines the external scope of a limited company?
Memorandum of Association
What type of partnership requires at least one general and one limited partner?
Limited Partnership
Name one private limited company in Belize.
Bowen & Bowen Ltd / Belize Bank Ltd / Quality Poultry Ltd.
What type of liability do general partners have?
Unlimited liability
One advantage of a private limited company.
Limited liability for shareholders / Continuity / Separate legal identity
What document sets out the internal rules of a company?
Articles of Association
Which type of partnership offers all partners limited liability?
Limited Liability Partnership – LLP
Name one public limited company in Belize.
Citrus Products of Belize Ltd
What separates a limited company from its owners?
It is a separate legal entity
One disadvantage of a public limited company.
Risk of takeover / Costly legal requirements / Must publish accounts
What must public limited companies disclose annually?
Their accounts / financial statements
Which type of limited company cannot trade its shares on the stock exchange?
Private Limited Company – Ltd
Name one international public limited company
Apple / Amazon / Microsoft
hat must all companies and partnerships do before operating legally in Belize?
Register their trading name
Which type of business has the greatest privacy of financial information?
Partnerships
Which document includes details about directors, shareholders’ rights, and meetings?
Articles of Association
Which type of company allows its shares to be advertised and sold publicly?
Public Limited Company – Plc
Which company type is Insurance Corporation of Belize Ltd (ICB)?
private Limited Company