N5 - Sole Trader

A sole trader has how many owners?

• 2-4

• 1

• 4-10

• 10+

There is three sectors of economy; a sole trader sits in?

• Private sector

• Public sector

• Third sector

A sole trader has to share their profit

• True

• False

What does unlimited liability mean?

• The owner is responsibility for paying everything back in full when there's debt - even if that means having personal possessions taken

• They have unlimited money available

• The individual owner only has to pay part of the debt - what they can afford

Owners get to make all their own

(a)  

A sole trader, most of the time, has to do very little work

• True

• False