Topic 12: Types of Business Organizations
Private Limited Companies
Features v Must use the word “Limited” or “Ltd” after its name v Can not invite the general public to buy its shares and debentures v Must have a minimum of two shareholders v Can…
Topic 12: Types of Business Organizations
Joint Stock Companies
Definition A Joint Stock Company is an association of people who contribute towards a joint stock of capital for the purpose of carrying on business with the view to profit. The stock of capita…
Topic 12: Types of Business Organizations
Company Shares and Debentures
Shares v Share is a subdivision of the capital of the company v Each share has a distinct number v Each share is given a face value which is paid by the shareholder v There are two…
Soletrader
Partnership Firms
Definition According to the Partnership Act 1890, “Partnership is a voluntary association of people (from two to twenty) which is formed to carry on business with the view to make profit”. Partne…
Topic 12: Types of Business Organizations
Public Limited Companies
Features of Public Limited Companies v Must use the word “Public Limited Company” or “PLC” after its name v Can invite the general public to buy its shares and debentures v Can transfe…
Topic 12: Types of Business Organizations
Private Sector
Definition Private Sector refers to that part of the economy concerned with the transactions of private individuals, businesses and institutions. The Private Sector and the Public Sector make up …
Topic 12: Types of Business Organizations
Sole Trader
Definition A sole trader or a sole proprietor is one in which an individual introduces his own capital and uses his own skills and knowledge in the management of its affairs. He is solely responsib…
Soletrader
Partnership Firms
Definition According to the Partnership Act 1890, “Partnership is a voluntary association of people (from two to twenty) which is formed to carry on business with the view to make profit”. Partne…
Topic 12: Types of Business Organizations
Joint Stock Companies
Definition A Joint Stock Company is an association of people who contribute towards a joint stock of capital for the purpose of carrying on business with the view to profit. The stock of capi…
Topic 12: Types of Business Organizations
Private Limited Companies
Features v Must use the word “Limited” or “Ltd” after its name v Can not invite the general public to buy its shares and debentures v Must have a minimum of two shareholders v Can h…
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