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Differentiate sole trader, partnership, Limited Companies, Public…
Differentiate sole trader, partnership, Limited Companies, Public Companies
Sole Trader
Number of Owners 1
Liability: Unlimited
Powers: Solely with the owner
Profit: Solely to the owner
Legal Requirements: None
Publication of Annual Accounts: Not Required
partnership
Number of Owners 2 - 20
Liability Unlimited
Powers: partner can take active part
Profit: Share among the partners
Legal Requirements None
Publication of Annual Accounts: Not compulsory
Limited Companies
Owners: 2 – no upper limit
Liability: Limited for all shareholders
Capital: Contributed by the shareholders
Powers & Control: Board of Directors
Elected by shareholders
Transfer of shares is restricted
Legal Requirements
"Registrar of Companies”
“Certificate of Incorporation”
Publication of Annual Accounts
Only available for Registrar of Companie
Public Companies
Owners: 2 – no upper limit
Liability: Limited for all shareholders
Capital: Contributed by the shareholders
Powers & Control Board of DirectorsElected
Elected by shareholders
Share are freely transferable
Legal Requirements
Registered as private limited
“Trading Certificate” must be obtained
Publication of Annual Accounts
Compulsory
Anyone can request