Podcast
Questions and Answers
Owned by -- person. Sole trade has the same --------- as its owner. The owner is legally responsible for all aspects of the business including unlimited ______.
Owned by -- person. Sole trade has the same --------- as its owner. The owner is legally responsible for all aspects of the business including unlimited ______.
1, legal enitity, liability
If the business is unable to ---------, the owner may have to sell their -------______, such as properties, to ------------- to pay off the liability.
If the business is unable to ---------, the owner may have to sell their -------______, such as properties, to ------------- to pay off the liability.
pay its debts, personal assets, raise enough money
Sole trade has the same ------- as its owner. The owner is -------- for all aspects of the business including ______-------
Sole trade has the same ------- as its owner. The owner is -------- for all aspects of the business including ______-------
legal entity, legally responsible, unlimited liability
A partnership is a business owned by --------- A partnership has the ----------------- to its owners and therefore has ______--------
A partnership is a business owned by --------- A partnership has the ----------------- to its owners and therefore has ______--------
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Partnerships can help a business access ------------- ______ as all partners can ---------------
Partnerships can help a business access ------------- ______ as all partners can ---------------
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Partners share in any ______ the business ---------. The amount each partner receives is ---------------- of the business the partner owns.
Partners share in any ______ the business ---------. The amount each partner receives is ---------------- of the business the partner owns.
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When starting a partnership, there should be a ---------------- set out so each partner knows their clearly -------- ________. This can help to ---------------- as each partner knows their ------------------
When starting a partnership, there should be a ---------------- set out so each partner knows their clearly -------- ________. This can help to ---------------- as each partner knows their ------------------
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