Principles of accounts

This quiz is about a Sole Trader and its characteristics. Another name for a sole trader is an entrepreneur.

published on May 07, 20181 response 0
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1/8

A sole trader:

owns his owns business
owns a business with another individual
is owned by more than twenty persons
is owned by more than fifty persons
2/8

A sole trader gets capital

from a partner
from shares in a company
from his savings or loan
3/8

A sole trader has

Hint: 2 choices
limited liability
unlimited liability
no liability
difficulty in accessing a loan
4/8

All profits and losses of a sole trader belong to

Hint: 2 choices
the owner
the partners
the shareholders
the entrepreneur
5/8

The picture below shows a doubles vendor,the type of business can be classified as:

The picture below shows a doubles vendor,the type of business can be classified as:
An entrepreneurship
A Partnership
A Company
6/8

One of the disadvantages of operating your own business, such as a hairdressing salon is

One of the disadvantages of operating your own business, such as a hairdressing salon is
Long working hours
A partner to help you
Shareholders to share the workload
7/8

another name for sole trader is

Hint: 2 choices
Entrepreneur
Partnership
Individual
Entrepreneurship
8/8

One advantage of a sole trader is

unlimited liability
Establishing your own business is easy
if the owner dies,the business dies