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ACCT102 Chapter 2
ACCT102 - University of Canterbury
7
Accounting
Undergraduate 1
03/18/2013

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Cards

Term
What is a sole trader?
Definition
An individual in business on his or her own account
Term
What is a partnership?
Definition
The relationship that exists between two or more persons carrying on a business with a view to making profit
Term
What is a company/
Definition
An artificial legal person which has an identity separate from that of those who own and manage it.
Term
What is the role in a company of "Directors"
Definition
Individuals who are elected to act as the most senior level of management of a company
Term
What is "Corporate Governance"?
Definition
The system by which companies are directed and controlled
Term
What are ordinary shares?
Definition
Shares of a company owned by those who are entitled to the benefits of the company's activities after all other stakeholders have been satisfied.
Term
What are dividends?
Definition
Distributions of profits by a company to its shareholders
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