Liability — definition?
Owners' liability for debts is limited or unlimited.
Unlimited liability — effect?
Owners' personal assets are at risk.
Limited liability company — taxes?
Taxed separately from owners.
Sole trader — liability?
Unlimited liability, responsible for all debts.
Partnership — key feature?
Multiple owners sharing profits and responsibilities.
Limited liability partnership — legal?
Has a separate legal entity.
Private limited company — share trading?
Shares traded privately, often among family.
Public limited company — shares?
Shares bought and sold on stock exchange.
Not-for-profit — profit distribution?
Profits are reinvested, not distributed.
Public sector — primary role?
Provides public services funded by taxes.
Ownership vs management — PLC?
Shareholders own, directors manage.
Liability types — impact?
Limited caps risk; unlimited exposes personal assets.
Pon a prueba tus conocimientos con 12 preguntas sobre Understanding Business Structures and Liability.
1. What is the main effect of limited liability on a business owner’s financial risk?
2. Which statement best describes unlimited liability in business ownership?
Revisa el curso completo en la hoja de repaso para Understanding Business Structures and Liability.
Ver hoja de repaso →Importa tu curso y la IA genera tarjetas de memoria en 30 segundos.
Generador de tarjetas de memoria