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What is the difference between a sole trader and a Public Limited Company Financial statementi no im taking the piss but i need your help, an yes i am serching for myself off of the forum

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plc have to produce a balance sheet. profit and loss account and 1 other theingsole trader dont have to

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plc have to produce a balance sheet. profit and loss account and 1 other theingsole trader dont have to
yer yer i got that part sfe 4 ur help thou fam

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something about liabilityif a plc goes broke they would sell their assets, the owners property doesnt get touched because the company is publicsole trader the oppositeme thinks

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something about liabilityif a plc goes broke they would sell their assets, the owners property doesnt get touched because the company is publicsole trader the oppositeme thinks
yer yer i got all that sfe but , mans talking about the differnce in the finacial statment of a sole trader and a plc

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We haven't gone into the difference between the financial statements yet. And since in work I only deal with public sector organisations I haven't come across it. Probably learn it next week or suttin.Edit: Look what you've done now. There's been posts in the thread, he's gonna come in here thinking he's got an answer and just see this converastion. Imagine his disappointment. On the other hand, he could probably google this.

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Guest LucaPiano
Hmmm... Drawings?I should know but frankly, I don't.
When anymoney is withdrawn from the business

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Guest LucaPiano
LOL it was a suggestion, not a question.
fair play, at least i taught u something though

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Guest LucaPiano
No you didn't. Your definition was inaccurate. Drawings must involve the business' owner.
What is the Acid Ratio Test then? Whats the formula? What does it achieve and why should a business do it?Cheers, think google wont help you within 3mins so ican tell if u checked on the net by 23.25

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No you didn't. Your definition was inaccurate. Drawings must involve the business' owner.
What is the Acid Ratio Test then? Whats the formula? What does it achieve and why should a business do it?Cheers, think google wont help you within 3mins so ican tell if u checked on the net by 23.25
Are you Ashman? The f*ck is this. Never seen a neekier pissing contest in my life.

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One has to tkae on all its own debts with its own money (sole trader)the other has to pay for debts out of shareholders monney (limted liabity)The term limited liability means that costs can only be taken on by the company up to a limit.The disadvantage of the second option is separation ownership and less control over the organisation.Plus side is shareholders can vote & impeach leaders who beahave outside of the companies best interests.hope this helps

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