Topic 1 Quiz 1 Sole Trader and Partnership
Authored by S Wilson
Business
11th - 12th Grade
Used 24+ times
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10 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Give two advantages of being a Sole Trader
All profits are kept
Lack of continuity – if sick or die!
Financial privacy
Conflict between partners
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Give two disadvantages of being a Sole Trader
Unlimited liability
Financial privacy
Better control
Long hours
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Give two advantages of trading as a Partnership
Unlimited liability
Shared work load
Raising capital easier
Lack of expertise
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Give two disadvantages of trading as a Partnership
Financial privacy
Lack of continuity
Low start-up costs
Loss of autonomy
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Give two advantages of trading as a Sole Trader
Unlimited liability
Lack of capital
Better control
Financial privacy
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Give two disadvantages of being a Sole Trader
Shared work load
Lack of expertise
Lack of continuity
Better control
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Give two advantages of trading as a Partnership
Financial privacy
Lack of capital
Low start-up costs
Lack of expertise
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