Sole trader advantages - Study guides, Class notes & Summaries

limited liability - ANS-financial responsibility of business owners only for what they invested in a business unlimited liability - ANS-The owner is personally and fully responsible for all losses and debts of the business Partnership - ANS-a business owned by two or more people Entrepreneur - ANS-A person who organizes, manages, and takes on the risks of a business. Intrapreneur - ANS-A manager, scientist, or researcher who works inside an organization and notices opportunities to d...

When an individual decided to start a business that business can be organised in one of three ways. Provide a definition of each way. - Correct Answer A business can be organised as a sole trader, partnership or company. A sole trader business is the simplest business type, it is a business that is owned and operated by one person. However a sole trader business may employ more than one person. In the eyes of the law the sole trader personally and the sole trader's business are one and the s...

AQA A-Level business paper 1 revision Questions And Detailed Rationales Answers Why businesses exist - Can make you money and you can be your own boss Mission - a business aim expressed to make it seem especially purposeful and motivating Objectives - SMART Specific, Measurable, Achievable, Realistic, Time-bound Why businesses set objectives - - it is motivating to have a goal to aim toward - as a boss you can not make every decision Profit - Revenue - tot...

Unlock Success with AQA Business A-Level! Dive into Unit 1: What is a Business? Key Terms and Definitions Get ahead with essential terminology: Business: Where goods and services meet money. Sole Trader: One-person operation. Partnership: Teamwork makes the dream work. Private Limited Company (Ltd): Shareholders, limited liability. Public Limited Company (Plc): Shares on the stock exchange. Stakeholder: Interested parties in a business. Limited Liability: Protecting perso...

VCE Business Management Unit 3 & 4 Exam Revision Questions With Solutions VCE Business Management Unit 3 & 4 Exam Revision What is a business? A lawful organization involved in the provision of goods and/or services to consumers to earn a profit. business type - sole trader The individual owner of a business who is entitled to keeping all profits, as they are legally and financially responsible for all aspects of the business but are liable for all losses. - Owner has full c...

CCEA Business Studies AS Unit 1|GUARANTEED SUCCESS. Business Enterprise Any operation established to produce or supply goods/services desired by consumers generally with a view to making profit. Factors of Production The inputs of land, labor, capital and enterprise required to produce or supply goods/services. Entrepreneur Someone who starts and runs a business and has the responsibility of the risks involved. Entrepreneurial Characteristics These are common traits found in successful...

Why businesses exist Can make you money and you can be your own boss Mission a business aim expressed to make it seem especially purposeful and motivating Objectives SMART Specific, Measurable, Achievable, Realistic, Time-bound Why businesses set objectives - it is motivating to have a goal to aim toward - as a boss you can not make every decision Profit Revenue - total costs What are the 5 types of business -sole traders -private limited companies (LTD) ...

Chapter 3—Exploring Global Business ESSAY 1. What is the difference between an absolute advantage and a comparative advantage? ANS: Answer not provided. PTS: 1 DIF: Moderate REF: OBJ: 3-1 NAT: AACSB: Analytic TOP: The Basis for International Business 2. What is a national balance of trade? What does someone mean when he or she says that the balance of trade is favorable? Unfavorable? ANS: Answer not provided. PTS: 1 DIF: Moderate REF: OBJ: 3-1 NAT: AACSB: Diversity TOP: The Basis fo...

CCEA A22 business key terms with complete verified definitions. (A+) Mission statement. Sets out a business's overall purpose to direct and stimulate the entire organization. Aims Long term plans of the business from which its corporate objectives are derived. Objectives Medium to long term goals established to coordinate the business. Profit Measures the extent to which revenues from selling a product exceed the costs incurred in producing it over time. Cash flow The amount of mone...

Unit 19: Pitching for a new Business P1 P2 M1 D1 Unit 19 P1 P2 M1 D1 Mohamed Unit 19: Pitching for a new business P1 P2 M1 D1 P1/P2: Describe the potential business opportunities for a micro-business start-up and Review the factors that need to be considered to start up a micro-business. My business is called Deliver R u, the reason I decided to start up my own business is because I wanted to be able to do my house shopping without having to leave my house. The reason I chose service i...