Partnership

There is more than one person to invest capital in the business.

• Sole Trader

• Partnership

• Both

Partnerships are unincorporated businesses.

• True

• False

It's easy to set up a partnership

• True

• False

Partnerships are small businesses and easy to grow

• True

• False

If one partner leaves, the business must not close

• False

• True

The owners have to share the profits

• False

• True

Owners have unlimited liability and no separate legal identity.

• Sole trader

• Partnership

• Both

Sole trader and partnership businesses can easily compete with bigger businesses.

• True

• False