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Forms of Business
keywords for JC Forms of Business
Term | Definition |
---|---|
Sole Trader | Business that is owned and controlled by one person |
Unlimited Liability | Person is responsible for all the debts of the business even to the extent of losing private property |
Private Limited Company | Business owned by 1-99 shareholders where the liability of the shareholders is limited |
State Ownership | A business that is owned and controlled by the Government and managed by Government minister |