business ownerships Flashcards
(6 cards)
1
Q
number of owners in a sole, partnership and company
A
1, 2+, 1-50
2
Q
the liability for all types of business ownerships
A
unlimited (sole & partnership)
limited (company)
3
Q
which business struggle and which businesses strive at raising capital
A
sole ownership = struggle
company = easier
4
Q
profit distribution between businesses
A
sole trader: all to the owner
partnership: shared between owners
company: dividends
5
Q
ownership transfer between the 3 businesses
A
sole = hard
partnership = moderate
company = easier
6
Q
the businesses continuity
A
sole: ends with the owner
partnership: depends on what happens
company: it continues past a shareholders death
