Business Ownership
Overzicht
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.
Doelstellingen
- Sole traders.
- Partnerships.
- Limited liability businesses.
- Not-for-profit organisations.
- Private and public sectors.
Mindmap
Dit onderwerp is in kaart gebracht zodat je ziet hoe de ideeen samenhangen.
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Lesnotitie
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Lesevaluatie
Gefeliciteerd met het voltooien van de les op Business Ownership. Nu je de sleutelconcepten en ideeën, het is tijd om uw kennis op de proef te stellen. Deze sectie biedt een verscheidenheid aan oefeningen vragen die bedoeld zijn om uw begrip te vergroten en u te helpen uw begrip van de stof te peilen.
Je zult een mix van vraagtypen tegenkomen, waaronder meerkeuzevragen, korte antwoordvragen en essayvragen. Elke vraag is zorgvuldig samengesteld om verschillende aspecten van je kennis en kritisch denkvermogen te beoordelen.
Gebruik dit evaluatiegedeelte als een kans om je begrip van het onderwerp te versterken en om gebieden te identificeren waar je mogelijk extra studie nodig hebt. Laat je niet ontmoedigen door eventuele uitdagingen die je tegenkomt; beschouw ze in plaats daarvan als kansen voor groei en verbetering.
- 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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