Forms of Ownership

What is capital in a business?

• Number of employees in the business
• Financial assets or resources used to start and operate the business.
• Physical location of the business
• Total revenue generated by the business

Explain the concept of legal personality in a business.

What is continuity in a business and why is it important?

Describe the concept of liability in a business and its implications.

Explain the taxation process for different forms of ownership in a business.

What are the characteristics of a sole trader in terms of ownership?

Discuss the advantages and disadvantages of being a sole trader.

What are the characteristics of a partnership in terms of ownership?

Discuss the advantages and disadvantages of a partnership.

What are the characteristics of a Close Corporation (CC) in terms of ownership?