S1 Sole Traders & Partnerships

How many people own a sole trader business?

• 3
• 2
• 1
• 20

How many people can own a partnership?

• 1
• Between 2 and 40
• Between 3 and 30
• Between 2 and 20

What is unlimited liability?

• If the business fails you will not lose personal possessions
• If the business fails you will lose personal possessions

Are Sole Traders large or small businesses?

• Large
• Small

Which of these businesses is a sole trader?

• Domino's
• Marks & Spencer
• Amazon
• Local Newsagent

Which of the businesses has unlimited liability?

• Sole Trader
• Partnership
• Both

In a partnership, all profits are shared between the partners.

• False
• True