Types of Business Organizations

1. A sole trader enjoys all the __________ and bears all the risks or losses.
5. A __________ must be registered and have its own legal entity.
6. __________ Limited Companies may have a minimum of 7 shareholders and no maximum.
8. __________ Limited Companies have a limit to the number of shareholders who can join the company.
9. This type of business organization is formed legally by a minimum of 2 and a maximum of 20 persons.
11. A __________ describes any business that is owned and controlled by one person, although he may employ others to work in that business.
12. In a __________ Liability Partnership, at least one partner must have unlimited liability.
14. __________ refers to monies that the business owes.

2. These types of co-operatives are member owned and formed to serve a population’s financial needs.
3. This type of liability means the owner is not only liable to lose money they have invested into the business but also have their personal assets taken away in order to repay the debts of the business
4. __________ existence means that if a member dies, the business still continues to live on.
7. A __________ of partnership must be drafted which set out the terms and conditions of the partnership
10. This type of partner may be willing to introduce capital/invest in the business but my not want to take active part in the running/operations of the business
11. __________ represent ownership in a company. When a person buys it, they become one of its owners.
13. The Belize Bus Owners Co-operative is an example of a __________ co-operative .