CHAPTER 17 – TYPES OF BUSINESS tsio 1. Copy and fill in the blanks.
a. A ___________ ___________ business is owned and run by an individual.
b. A ___________ ___________ ___________ is a business that is owned by between one and 149 shareholders.
c. A person who owns one or more shares in a company is called a ___________.
d. A public limited company is a business whose shares can be traded on the ___________ ___________ and bought by members of the general public.
e. A ___________ body is a business that is owned by the government.
f. The business granting a franchise licence is called the ___________ . The person setting up the outlet is called the ___________.
g. A co-operative is a business that is owned by its ___________ and run for their benefit.
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2. Explain the difference between limited liability and unlimited liability.
3. Select two forms of business ownership and compare them under the following headings:
• Ownership • Liability • Profits.
4. Outline the differences between the two types of private limited companies operating in Ireland (CLS and DAC).
5. List three features of a public limited company.
6. List three features of a state-sponsored body.
7. Explain the three types of co-operative.
8. Jack Foley is an interior designer who wants to set up his own business. What type of business would you advise him to set up? Give reasons for your choice.
