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AQA GCSE Business 8132
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Welcome!Today we'll learn about Ownership, a key topic in AQA GCSE Business 8132. We'll explore the types of business ownership and what makes each unique. Let's get started!
What is Ownership?Ownership refers to who legally owns and controls a business. It affects decision-making, how profits are shared, and the level of risk involved.
Sole TraderA sole trader is a business owned and run by one person. They have full control and keep all profits but face unlimited liability (personal assets are at risk).
Which of the following is a feature of being a sole trader?
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PartnershipA partnership involves two or more people sharing ownership, decision-making, and profits. They also share unlimited liability unless they form a limited liability partnership (LLP).
In a partnership, owners share {{blank0}} and {{blank1}}.
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Private Limited Company (Ltd)A private limited company is owned by shareholders, but shares cannot be sold to the public. Owners have limited liability, meaning their personal assets are protected.
Match the items on the left with their correct pairs on the right
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Public Limited Company (Plc)A public limited company sells shares on the stock exchange to the public. It allows large amounts of finance to be raised but requires strict legal regulations and transparency.
Which of the following are features of a public limited company (Plc)? (Select all that apply)
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Not-for-Profit OrganisationsA not-for-profit organisation aims to meet social, environmental, or community goals rather than making profits. Examples include charities or community groups.
What is the main goal of a not-for-profit organisation?
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Review Time!Great work! You've learned about key ownership types. Now let's test your understanding with a few final questions.
Which types of ownership involve unlimited liability? (Select all that apply)
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Match the items on the left with their correct pairs on the right
Start the lesson to answer this matching question
A business with {{blank0}} liability protects owners' {{blank1}} assets.
Start the lesson to answer this fill in the blank question
Which ownership type allows shares to be sold privately?
Start the lesson to answer this multiple choice question
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