Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
Know
remaining cards
Save
0:01
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards
share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Ownership Structures

Chapter 19

TermDefinition
CEO Chief Executive Officer
MD Managing Director
CRO Company Regulations Officer
LTD Private Limited Company
PLC Public Limited Company
SOLE TRADER A person who runs and owns their own business
PRIVATE LIMITED COMPANY Company with limited liability and 1-99 shareholders
ADVANTAGES OF LTD 1. Limited Liability 2. Access to more finance 3. Share decision making
FORMS FOR FORMATION OF LTD 1. Memorandum of Association 2. Articles Of Association 3. Form A1
DISADVANTAGES OF LTD 1. Difficult to set up 2. Costly to set up 3. Share profits
ULTRA VIRES Directors acting beyond their power in a company
PARTNERSHIP 2-20 owners who share the running of a company
AUDITOR External accountant who checks your account
BENEFITS OF PLC 1. Limited liability 2. Continuity of existence 3. Access to finance
DRAWBACKS OF PLC 1. Costly to set up 2. Costly to run 3. Share profits
CO-OPERATIVE Greater than 7 shareholders who work together for the benefit of the community
DAIRY/PRODUCER CO-OP Workers run the co-op and share profits equally
FINANCIAL CO-OP Ferbane Credit Union
WORKER CO-OP Celtic Roots
CERTIFICATE OF INCORPORATION Separate legal identity to the people in it. They can sue or be sued.
Created by: EmmaD98