Other 1
Must have the ability to lead, good communication and project management skills.
What are characteristics of an entrepreneur.
Profits are not shared in this type of business
What is a sole trader/ sole proprietorship
This business is a separate legal entity from the owners.
What is a company
Owned by a minimum of 2 persons
What is a partnership
Person who undertakes the risk of starting a business.
Who is an entrepreneur
A partner who does not participate in the day to day activities of the business
What is a limited/ sleeping partner.
shareholders/investors are protected as they will not lose their personal assets if the business goes bankrupt and cannot be held responsible for the debts of the company beyond their level of investment.
What is a limited liability company.
The following statement represents a disadvantage of what type of business "There may be limited capital to inject into the business"
What is a sole trader/ sole proprietorship
To register this type of business a BN2 form is completed
What is a partnership
Type of investment in which a partner or investor cannot lose more than the amount invested
What is limited liability
Written agreement for a temporary transfer of a property (usually cash) from its owner to a borrower who promises to return it according to the terms of the agreement, usually with interest for its use.
What is a loan
Allows members of the public to purchase shares
What is a public limited company.
There are high risks for partners who do not have limited liability. What does this statement represent
What is a disadvantage of a partnership
Consultations are not necessary for decision making represents a/ an_________________
What is an advantage of a sole trader business
Allows a business owner to take more than what is available in their bank accounts and can be used as a source of capital
What is an overdraft
This is given by the government to help business and does not have to be repaid
What is a grant
Being able to take advantage of tax minimization schemes represents a/ an___________
What is an advantage of a company
allows friends, relatives and co-workers to purchase shares and to be a part of the company
What is a private limited company
This business has to complete a BN1 form in order to register.
What is a sole trader
Property or its equivalent that a debtor deposits with a creditor to guarantee repayment of a debt.
What is collateral
This is a source of capital where royalties are obtained from allowing a business to operate under the same name and sell the same products____________
What is franchising
A completed Form 1 that is filled out when registering a business as a company pertains to what type of information
What is a declaration of compliance.
This is where the shares/stocks of public limited companies are traded.
What is the stock market.
In a partnership what does the acronym 'L.L.P' mean
What does the following statement represent 'Increasing the goodwill of the borrowing business in the capital market"
What is a role of financial institutions as a source of capital'