Private Limited Company

Gap-fill exercise

Fill in all the gaps, then press "Check" to check your answers. You have 6 minutes to attempt this exercise.
   accounts      annual general      audited      legal identity      limited      Private      Registrar      shareholders      shares      transferred   
A Limited company is often owned by people who know each other, such as family, friends or work associates. They buy in the company and become part owners of the company. Shares cannot be sold to the public or without permission of all .
The shareholders have liability, which means that if the company has financial problems the shareholders can be held responsible only up to the value of their shares. This is because the company has its own , separate from the shareholders. Each year the company must hold an meeting of the shareholders. They also have to send an independently copy of the company to the of Companies