Term
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Definition
| The way in whick a business is legally structured and owned. |
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Term
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Definition
| Means that a person is only responsible for the amount of money that he/she puts into the business. |
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Term
| Unlimited liability(pg60) |
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Definition
| The personal responsibility for all of the debts incurred by the business. |
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Term
| Partership agreement(pg60) |
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Definition
| A document that includes the responsibilities of each partner and the agreements reached to ensure that the business operates optimally. |
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Term
| Registrar of companies(pg60) |
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Definition
| Goverment dpartment that processes all registrations of companies. |
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Term
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Definition
| A distinctive sign, brand name or logo that identifies a person company or product. |
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Term
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Definition
| A restriction or limit to being able to carry out a certain action because of rules in place. |
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Term
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Definition
| A business that is required to pay Value Added Tax on their products or services to the south African Revenue Services. |
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Term
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Definition
| Not enough money to pay outstanding debts. |
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