Business Ownership
Resumen
Two people open a restaurant on the same street in the same month. One signs the lease in her own name. The other spends an afternoon and a small fee registering a company, then signs the lease in the company's name. For two years nothing distinguishes them. Then a fire in the kitchen destroys the building, the insurance argues, and a court awards damages of 300,000. One of them loses the restaurant. The other loses the restaurant, the family house and the car.
That is the difference a legal structure makes, and it is why this topic is worth more than the memory work it looks like. In this lesson you will learn what a sole trader, a partnership, a private limited company, a public limited company and a multinational each are; what limited liability actually protects and what it does not; why the structure a business chooses determines who controls it, who is paid out of the profits and how much finance it can raise; and how the private sector differs from the public sector in a mixed economy. You will finish able to argue, in a case study, which structure a particular business should choose and why.
Objetivos
- Sole traders.
- Partnerships.
- Limited liability businesses.
- Not-for-profit organisations.
- Private and public sectors.
Mapa mental
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Nota de la lección
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Evaluación de la lección
Felicitaciones por completar la lección del Business Ownership. Ahora que has explorado el conceptos e ideas clave, es hora de poner a prueba tus conocimientos. Esta sección ofrece una variedad de prácticas Preguntas diseñadas para reforzar su comprensión y ayudarle a evaluar su comprensión del material.
Te encontrarás con una variedad de tipos de preguntas, incluyendo preguntas de opción múltiple, preguntas de respuesta corta y preguntas de ensayo. Cada pregunta está cuidadosamente diseñada para evaluar diferentes aspectos de tu conocimiento y habilidades de pensamiento crítico.
Utiliza esta sección de evaluación como una oportunidad para reforzar tu comprensión del tema e identificar cualquier área en la que puedas necesitar un estudio adicional. No te desanimes por los desafíos que encuentres; en su lugar, míralos como oportunidades para el crecimiento y la mejora.
- Which one of the following types of business gives its owners limited liability? A. A partnership B. A private limited company C. A sole trader D. A market stall Answer: B
- Which one of the following best describes the public sector? A. Businesses owned by government on behalf of citizens B. Businesses whose shares are traded on a stock exchange C. Businesses with more than one owner D. Businesses that make no profit Answer: A
- Which one of the following is a drawback of being a sole trader? A. All decisions must be agreed with other owners B. Profits must be shared with shareholders C. The owner has unlimited liability D. The accounts must be published for the public to read Answer: C
- A company floats on a stock exchange. Which one of the following is the most likely consequence? A. Its owners gain unlimited liability B. Its shares can be bought by members of the public C. It becomes part of the public sector D. It can no longer employ staff Answer: B
- Which one of the following is a feature of a not-for-profit organisation? A. It cannot employ paid staff B. It is always owned by the government C. It never needs its income to cover its costs D. Any surplus is put back into its purpose rather than paid to owners Answer: D
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