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The Sole Trader

Authored by Ms Teacher

Education, Business

7th Grade - Professional Development

Used 2+ times

The Sole Trader
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8 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

What does legal persona refer to?

the legal right to own property

the right to have a business

the legal right to enter a contract

the right to earn an income

2.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

What are the tax implications for a Sole Trader?

28%

as an individual

45%

as a company

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

A Sole Trader has _________ liability

unlimited

limited

4.

MULTIPLE SELECT QUESTION

1 min • 5 pts

What are the disadvantages of decision making as a Sole Trader?

*select all that apply

dependent on others input

own ideas only

sole responsibility

quick decision making

5.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

A Sole Trader is owned by ______.

Select the option that best fills the blank.

A sole business

1 person

a skilled family

less than 3 people

6.

MULTIPLE SELECT QUESTION

45 sec • 5 pts

Where does a Sole Trader get their capital from?

*Select all that apply.

Business partners

Savings

Family

Loans

7.

MULTIPLE SELECT QUESTION

1 min • 5 pts

A Sole Trader ceases to exist when?

*Select all that apply.

The owner dies

The ownership is transferred

The owner retires

The owner goes on vacation

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