2.1.3 Liability

Question 1

Private limited company (LTD)

Answer 1

owned by shareholders and shares can be transferred privately

Question 2

Public limited company (PLC)

Answer 2

owned by shareholders and shares can be sold publicly

Question 3

Limited companies

Answer 3

must follow a legal procedure to set up and register documents run by directs who are elected by shareholders​

Question 4

unlimited companies

Answer 4

Businesses where there is no difference between the owner and the business