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JSS1: BUSINESS STUDIES - 2ND TERM

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  1. Types of Occupation | Week 1
    7 Topics
    |
    1 Quiz
  2. Honesty in Business | Week 2
    6 Topics
    |
    1 Quiz
  3. Ethics in Sourcing Chemicals and the Need for the Monitoring and Control of Chemicals | Week 3
    7 Topics
    |
    1 Quiz
  4. Entrepreneurship | Weeks 4 & 5
    5 Topics
    |
    1 Quiz
  5. Forms of Business Organisation | Weeks 6 & 7
    6 Topics
    |
    1 Quiz
  6. Consumer, Market & Society | Weeks 8 & 9
    5 Topics
    |
    1 Quiz

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Topic Content:

  • Meaning of Limited Liability Company
  • Private Limited Liability Company
  • Advantages of a Private Limited Liability Company
  • Public Limited Liability Company
  • Advantages of Public Limited Liability Company
  • Disadvantages of Public Limited Liability Company
  • Features of a Limited Liability Company

What is a Limited Liability Company?

It is an association of individuals who agree to unanimously put their resources together, for the purpose of having a business; it is separate from the owners. A Limited Liability Company is a legal entity, established through state approval, solely to make a profit.

There are two types of Limited Liability Companies namely: Private Limited Liability and Public Limited Liability Companies.

 

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