1
Q
What is Limited liability ?
A
Where owners are only responsible for the value of their debts up to their financial investments This means that a creditor can only take assets and finances that belong to the company.
2
Q
What is unlimited liability ?
A
Where the owners are responsible for the value of their debts, meaning a creditor can take personal assets and finances to cover the costs.
3
Q
What does bankrupt mean ?
A
Where an individual or organisation is unable to pay their debts.
4
Q
What is a creditor ?
A
Those that are owed money by an organisation or individual.
Business
flashcards
Decks in class (32)
# Cards
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Theme 1 - 1.1 The market23
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Theme 1 - 1.2 Market research15
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Theme 1 - 1.3 Market positioning6
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Theme 1 - 2.1 and 1.2.2 Supply and Demand14
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Theme 1- 2.3 and 1- 2.4 Market equilibrium and PED7
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Theme 1- 2.5 YED4
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Theme 1-3.1 Product service design6
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Theme 1 - 3.2 Branding and promotion7
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Theme 1 - 3.3 Pricing strategies9
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Theme 1 - 3.4 Distribution1
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Theme 1 - 3.5 Models and Marketing strategy10
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Theme 1 - 4.1 Approaches to staffing11
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Theme 1 - 4.2 Recruitment14
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Theme 1 - 4.3 Organisational structures10
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Theme 1 - 4.4 Motivation10
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Theme 1 - 4.5 Leadership styles6
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Theme 1 - 5.1 and 1 - 5.2 Role of an entrepreneuaur and Entrepreneurial motives and characteristics6
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Theme 1 - 5.3 and 1 - 5.4 Business objectives and Forms of businesses14
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Theme 1 - 5.5 Business choices2
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Theme 4 - 1.1 Global Marketing11
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Theme 4 - 3.2 - Global niche markets3
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Theme 4 - 1.2 - International trade8
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Theme 4 - 1.3 International trade6
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Theme 4 - 1.4 protectionism8
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Theme 4 - 1.53
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Theme 2 - 1.1 Internal and external sources of finance3
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Theme 2 - 1.2 External finance2
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Theme 2 - 1.3 Liability4
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Theme 2 - 1.4 Planning and Cashflow3
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Theme 2 - 2.1 Sales forecasting6
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Theme 2 - 2.2 and 2- 2.3 Costs and revenues6
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Theme 3 - 1.2 Porters And Ansoffs Matrix4
