1. Edexcel GCSE Business Studies © Pearson Education 2009 Chapter 20 Key terms Reveal the key term by clicking the forward arrow on your keyboard. Companies Limited liability Shareholders Sole trader (or Sole proprietor) Unlimited liability

2. Edexcel GCSE Business Studies © Pearson Education 2009 Chapter 20 Key terms Reveal the key term by clicking the forward arrow on your keyboard. Companies- businesses whose shareholders have limited liability. Limited liability Shareholders Sole trader (or Sole proprietor) Unlimited liability

3. Edexcel GCSE Business Studies © Pearson Education 2009 Chapter 20 Key terms Reveal the key term by clicking the forward arrow on your keyboard. Companies- businesses whose shareholders have limited liability. Limited liability- when shareholders of a company are not personally liable for the debts of the company: the most they can lose is the value of their investment in the shares of the company. Shareholders Sole trader (or Sole proprietor) Unlimited liability

4. Edexcel GCSE Business Studies © Pearson Education 2009 Chapter 20 Key terms Reveal the key term by clicking the forward arrow on your keyboard. Companies- businesses whose shareholders have limited liability. Limited liability- when shareholders of a company are not personally liable for the debts of the company: the most they can lose is the value of their investment in the shares of the company. Shareholders- the owners of a company. Sole trader (or Sole proprietor) Unlimited liability

5. Edexcel GCSE Business Studies © Pearson Education 2009 Chapter 20 Key terms Reveal the key term by clicking the forward arrow on your keyboard. Companies- businesses whose shareholders have limited liability. Limited liability- when shareholders of a company are not personally liable for the debts of the company: the most they can lose is the value of their investment in the shares of the company. Shareholders- the owners of a company. Sole trader - the only owner of a business which has unlimited liability. (or Sole proprietor) Unlimited liability

6. Edexcel GCSE Business Studies © Pearson Education 2009 Chapter 20 Key terms Reveal the key term by clicking the forward arrow on your keyboard. Companies- businesses whose shareholders have limited liability. Limited liability- when shareholders of a company are not personally liable for the debts of the company: the most they can lose is the value of their investment in the shares of the company. Shareholders- the owners of a company. Sole trader - the only owner of a business which has unlimited liability. (or Sole proprietor) Unlimited liability- a legal obligation on the owner of a business to settle (pay off) all debts of the business. In law, there is no distinction between what the business owes and owns and what the business owner owes and owns.