Financial Statements of Limited Companies

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Professional Development

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Shelton Mhlanga

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5 Slides • 3 Questions

Financial Statements of Limited Companies

Open Ended

What is a sole trader?

Type response here

What is a sole trader?

A sole trader business is owned and managed by on person.

What is limited company?

What is a limited company?

It is a business with a separate legal identity from it's owners. The owners' liability is limited to the amount of money they have invested in the business.

Multiple Choice

Which of the following is a list of three of the most common types of business ownership in The UK?

PLCs, Private Limited and Cooperatives

Franchises, Partnerships, PLCs

Sole traders, Partnerships and Limited Companies

Shareholders and Stakeholders

Multiple Choice

Which of the following statements is based on the accounting equation?

Statement of profit or loss

Statement of financial position

Income statement

Statement of changes in Equity

What are the other names for:

The statement of profit or loss and the statement of financial position?

Financial Statements of Limited Companies

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