Part 2 Flashcards
1
Q
Limited company ?
A
- Ownership is divided into equal parts called shares
- Limited liability
- Has to be registered with the cro (companies registration office)
2
Q
Two types of limited companies:
A
A private limited company (ltd)
A public limited company (plc)
3
Q
Advantages of a limited company
A
- Limited liability
- Low tax
- Company name is protected
4
Q
Drawbacks of a limited company
A
- Compliance: More rules to follow with a limited company
- Higher costs to start and close the business
