IGCSE Business Studies Chapter 4
Terms in this set (19)
A business owned by one person
The liability of shareholders in a company is only limited to the amount they invested
The owner of a business can be held responsible for the debts of the business they own. Their liability is not limited to the investment they made in the business
A form of business in which 2 or more people agree to jointly own a business
The written and legal agreement between business partners. (Not essential but recommended）
The business that does not have a separate legal identity. (Sole traders and partnerships)
The companies that have separate legal status from their owners.
The owners of a limited company. They buy shares which represent part ownership of a company
Annual General Meeting
A legal requirement for all companies. Shareholders may attend and vote on who they want to be on the Board of Directors for the coming year
Payments made to shareholders from the profits(after tax) of a company. They are the return to shareholders for investing in the company
Two or more businesses agree to start a new project together, sharing the capital, the risks and the profits
A business based upon the use of the brand names, promotional logos and trading methods of an existing successful business. The franchisee buys the license to operate this business fro the franchisor
Private Limited Company (Ltd)
Private limited company is a business which is owned by shareholders with limited liability. The company cannot sell its shares to the public.
Public limited company (plc)
Public limited company is a business which is owned by shareholders with limited liability. The company can sell its shares to the public and the shares are tradeable on the Stock exchange.
Memorandum of association
The document contains important information about the company, such as the address of the offices, the names of directors and the objectives of the company.
Article of association
The document contains the rules of the company, including the responsibilities of the directors and the voting rights of the shareholders.
the owner of the brand name or product
The business that uses someone else's brand or product.
the payments made by the Franchisee to the franchisor for the use of their brand or product
YOU MIGHT ALSO LIKE...
Management - Principles and Applications | Bierman, Ferrell, Ferrell
Business Studies Key Terms - Chapter 3 CIE
Types of business organisations
IGCSE Business Studies G1-Chapter 4: Types of Business Organization
OTHER SETS BY THIS CREATOR
IGCSE Economics Chapter 12 Economic system, Chapter 13 Market failure, Chapter 14 Government intervention
IGCSE Business Chapter 28 Environment and Ethical Issues
Cambridge IGCSE Economics: Price Elasticity of Supply
Cambridge IGCSE Economics: Price Elasticity of Demand
THIS SET IS OFTEN IN FOLDERS WITH...
IGCSE Business Studies- Chapter 1 & 2
IGCSE Business Studies - Chapter 3
IGCSE Business- Chapter 7 Organisation and management