3A Flashcards
(9 cards)
A Sole Trader
A sole trader is a business structure that is owned and operated by an individual.
A Partnership
A partnership is a business structure that is owned by 2 to 20 people
A Private Limited Company
A private limited company is an incorporated business structure that has at lest one director and maximum of 50 shareholders.
A Public Listed Company
A public listed company is an incorporated business structure that is managed by directors and has an unlimited number of shareholders.
The Australian Securities Exchange (ASX)
The Australian Securities Exchange (ASX) is where companies can rise money by selling shares publicly to investors who will then have partial ownership of the company.
Unincorporated
Unincorporated is the business owner and the business being viewed as the same entity.
Unlimited Liability
Unlimited liability is the business owner being held personally responsible for the business’s debt.
Limited Liability
Limited liability is when the business owner is not held personally responsible for the business’s debt.
Incorporated
Incorporated is the establishment of the business owner and the business as separate legal entities.
