7ECB Term 2 Revision

Explain 3 advantages of a Sole Trader

Explain 3 advantages of a Partnership

Explain 3 advantages of a company

Explain 3 disadvantages of a Sole Trader

Explain 3 disadvantages of a Partnership

Explain 3 disadvantages of a company

Explain the term Limited Liability

Explain the term Unlimited Liability

Sarah is a 16 year old student in year 10. She wants to get a job to start to save some money for her first car. What type of employment can Sarah get?

• Full time

• Part Time

• Casual

• Volunteer

Samuel and Michael want to start a business selling their crazy flavoured gum. Both Samuel and Michael have $5000 each to start their new business. What business structure suits them best?

• Company

• Partnership

• Sole Trader

• Volunteer