Across
- 2. The owners of the business can only lose the amount that they originally invested into the business if the business gets into debt or fails. The owners cannot be forced to sell their personal possessions to pay for the business’s debts
- 8. A group of people who are appointed by the shareholders/members to set strategy and run the business on their behalf. They represent the shareholder’s or member’s interests
- 9. A written document that details the contract between the partners. The partnership agreement includes key information about how the partnership will operate, such as how profits and losses are shared, how decisions are made and the name/purpose of the partnership business. The document can be referred to for future reference and in the event of disagreement
- 10. Also known as equity. Stock is the term to describe all of the shares in a company. Units of stock are known as shares
- 11. A person who runs the business on behalf of the shareholders/owners. They are usually responsible for a specific area or function within the business
Down
- 1. The owner(s) of the business is liable for the full debt of the business. If the business gets into debt of fails, the owners may be forced to sell their personal possessions to repay the business’s debts
- 3. A business owned and run by one person
- 4. A type of business owned by its members
- 5. A security that represents the fraction of ownership that the shareholder has in a company. The holder of a share is known as a shareholder
- 6. A person who owns shares in a company by investing money. They become an owner by buying a share in the company
- 7. A share of the profits paid to shareholders to reward them for investing in the business