A-Level CAIE Business AS 1.2.2—Business ownership Question Bank

• Business ownership

- the main features of different types of business ownership: sole traders, partnerships, private limited companies, public limited companies, franchises, co-operatives, joint ventures and social enterprises

- the appropriateness of different types of business ownership

- the concepts of unlimited liability and limited liability and their importance

- the advantages and disadvantages of changing from one type of business ownership to another