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SC – TUTORIAL 4 Lim Sei Kee @ cK

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Page 1: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

SC – TUTORIAL 4Lim Sei Kee @ cK

Page 2: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

SECTION A

Page 3: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

BUSINESS ORGANIZATION 1. An enterprise that produces goods or

services usually in order to make a profit

Page 4: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

SOLE PROPRIETORSHIP 2. A business organization owned and

controlled by one person

Page 5: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

LIMITED LIFE 3. A situation where a business closes if

the owner dies, retires or leaves for some other reason

Page 6: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

UNLIMITED LIABILITY 4. It means that a business owner is

responsible for all the business' losses and debts

Page 7: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

PARTNERSHIP 5. Business co owned by two or more

people who agree on how responsibilities, profits and losses of that business are divided

Page 8: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

GENERAL PARTNERSHIP 6. Partners share management of the

business and each one is liable for all business debts and losses

Page 9: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

LIMITED PARTNERSHIP 7. One in which at least one partner is

not involved in the day-to-day running of business and is liable only for the funds he or she has invested

Page 10: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

CORPORATION 8. A business owned by stock holders

who own the rights to the company's profits but face limited liability for the company's debts and losses

Page 11: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

DIVIDEND 9. A part of a corporation's profit that is

paid out to stockholders

Page 12: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

PUBLIC COMPANY10. This business organization issues stock that can be publicly traded

Page 13: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

PRIVATE COMPANY 11. This business organization controls

who can buy and sell its stock

Page 14: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

LIMITED LIABILITY 12. A business owner's liability for debts

and losses of the business is limited

Page 15: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

UNLIMITED LIFE 13. A corporation continued to exist

even after an owner dies, leaves the business, or transfers his/her ownership

Page 16: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

COOPERATIVE 14. A business operated for the shared

benefit of the owners, who are also its customers

Page 17: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

NON-PROFIT ORGANIZATION 15. A business that aims to benefit

society not to make a profit

Page 18: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

SECTION B

Page 19: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

SOLE PROPRIETORSHIP – ADV.- easy to open or close- few regulations- freedom and control- owner keeps profits

Page 20: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

SOLE PROPRIETORSHIP – DIS.- limited funds- limited life- unlimited liability

Page 21: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

PARTNERSHIP – ADV. - easy to open and close- few regulations- access to resources- joint decision making- specialization

Page 22: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

PARTNERSHIP – DIS. - unlimited liability- potential for conflict- limited life

Page 23: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

COMPANY / CORPORATION – ADV.- access to resources- professional managers- limited liability- unlimited life

Page 24: Lim Sei Kee @ cK. 1. An enterprise that produces goods or services usually in order to make a profit

COMPANY / CORPORATION – DIS.- start-up cost and effort- heavy regulation- double taxation- loss of control


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