Exploring Business

An individual who supplies the capital, takes all the profits but faces unlimited liability in the event of losses

• Partnership

• Sole trader

• Public Limited Company

Two or more people who set up business together and share all profits and losses

• Partnership

• Sole trader

• Public Limited Company

A business that is owned by shareholders

• Partnership

• Sole trader

• Public Limited Company

Which of the following parties are liable for company debts?

• Sole traders

• Shareholders of limited companies

• CEOs of limited companies

• The government

Environmental charity

• Not-for-profit

• Supply of services only

• Supply of products only.

Pilates instructor

• Not-for-profit

• Supply of services only

• Supply of products only.

international airlines

• Not-for-profit

• supply of services only

• Supply of products only.

Large pharmaceuticals company

• Not-for-profit

• supply of services only.

• supply of products only.

A banker

• Not-for-profit

• Supply of services only

• Supply of products only

A baker

• Not-for-profit

• Supply of services only

• Supply of products only