BTEC BUSINESS License Exam And Complete Verified Answers 2024.
Business - Answer An organisation or economic system where goods & services are exchanged for money. Private sector - Answer the part of the economy that involves the transactions of individuals and businesses Public sector - Answer the part of the economy that is controlled by the government Not for profit sector - Answer A business dedicated to furthering a particular social cause or advocation for a shared point of view Sole trader - Answer A business in which one person provides the permanent finance and, in return, has full control of the business and is able to keep all of the profits Partnership - Answer a business organization owned by two or more persons who agree on a specific division of responsibilities and profits Private limited company - Answer A business owned by shareholders with limited liability but whose shares cannot be bought by or sold to the general public. Public limited company - Answer A limited company whose shared are freely sold and traded cooperative - Answer a business organization owned and operated by a group of individuals for their mutual benefit limited liability - Answer A form of business ownership in which the owners are liable only up to the amount of their individual investments.
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