CIPS L3M1 questions well answered graded A+ 2024/2025

CIPS L3M1 questions well answered graded A+ 2024/2025Private incorporated companies are... - correct answer Seperate from their owners Private unincorporated companies have... - correct answer No legal distinction from their owners Sole trader - correct answer Those with exclusive ownership of a business Partnerships - correct answer Legal forms of a business with 2+ owners General partnership - correct answer a type of partnership in which all partners share equally in both responsibility and liability Limited liability partnership - correct answer a type of partnership in which all partners are limited partners limited partnership - correct answer partnership in which only one partner is required to be a general partner incorporated company - correct answer The 2 types are private limited company (Ltd) and public limited company (PLC) plc (public limited company) - correct answer a company whose shares can be traded on the stock market LTD (private limited company) - correct answer A business owned by shareholders when shares are sold by invitation only MSMEs - correct answer Micro, Small and Medium Enterprises