Ownership and operating aims (Learning Aim B) Flashcards
1
Q
Whar is a sole trader?
A
Businesses ran by a self-employed individual
2
Q
What does it mean to be liable?
A
To be legally responsible for something.
3
Q
What is a shareholder(s)?
A
The owner of the shares
4
Q
What is a stock exchange?
A
A place where shares are bought and sold
5
Q
What is a dividend?
A
A share of a business’s profits that is paid to a shareholder.
6
Q
What is it meant when a business breaks even?
A
Making enough money to ensure revenue costs are covered.
7
Q
What is a legacy?
A
A gift of money/property given away by an owner after death in their will.
8
Q
What is a surplus?
A
What a voluntary/not-for-profit organisation looks to achieve, where income is higher than expenditure.
