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BUSINESS OWNERSHIP (PRIVATE LIMITED COMPANY (Minimum paid-up capital of…
BUSINESS OWNERSHIP
SOLE PROPRIETORSHIP
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Advantages
- Retention of profits
- Ease of formation
- complete control
- lower taxes
Define
- Business owned by a single individual
PARTNERSHIP
Characteristics
Mutual contributions
Division of profit
Co-ownership
Mutual agency
Limited life
Unlimited liability
Partner's equity accounts
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Three comman types of business partnership
General partnership,
LLC partnership,S corporation
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Disadvantages
- Control is shared
- Unlimited liability
- Shared Profits
Advantages
- Funding
- Losses are shared
- Specialization
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PRIVATE LIMITED COMPANY
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It has Owner, Stockholder, Shareholder
PUBLIC LIMITED : COMPANY
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the risk is high because people have the ability to buy shares means they’re also buying into the risk
event of death or changes among shareholders and/or directors of the company, it need not be winded up (striked-off)
A public limited company ('PLC') is a company that is able to offer its shares to the public. They don't have to offer those shares to the public, but they can :
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