Forms of Business Ownership (Junior Cert Business Studies): Flashcards
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Practise the cards
15 cards from this deck
Simplest form of business ownership
Simplest form of business ownership
Sole trader
Capital definition
Capital definition
Money used to start and fund a business
Unlimited liability meaning
Unlimited liability meaning
Personal assets can be seized for business debts
Number of people in a partnership
Number of people in a partnership
2-20 individuals
Deed of Partnership
Deed of Partnership
Agreement outlining profit-sharing and dispute resolution
Shareholder definition
Shareholder definition
Person who owns shares in a company
Private limited company shareholder range
Private limited company shareholder range
1-149 shareholders
Dividends
Dividends
Shareholder's portion of profits
Limited liability meaning
Limited liability meaning
Can only lose money invested, not personal assets
CRO stands for
CRO stands for
Companies Registration Office
Public limited company name requirement
Public limited company name requirement
Must include 'PLC' in company name
Franchise definition
Franchise definition
Licence to use established brand/methods for fees
Co-operative voting structure
Co-operative voting structure
Each member has equal voting rights
Most common business structure in Ireland
Most common business structure in Ireland
Private limited company
Certificate of Incorporation purpose
Certificate of Incorporation purpose
Document issued by CRO allowing company to begin trading