
Understanding Sole Trading Concerns
Interactive Video
•
Business
•
8th - 12th Grade
•
Hard

Aiden Montgomery
FREE Resource
Read more
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a sole trading concern primarily characterized by?
A single owner
Government partnership
Multiple owners
A board of directors
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is true about government regulations for sole trading concerns?
They need a government license
They are heavily taxed
They have minimal government regulations
They require extensive registration
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does unlimited liability mean for a sole proprietor?
The business can never go bankrupt
The owner's personal assets can be used to pay business debts
The business is protected by insurance
The owner is not responsible for business debts
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential risk for a sole proprietor in terms of liability?
Liability shared with employees
Limited liability protection
Unlimited liability, risking personal assets
No liability for business debts
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key advantage of starting a sole trading concern?
Mandatory registration
Complex management structure
Freedom in business selection
High initial capital requirement
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is secrecy considered a feature of sole trading concerns?
The business must publish its accounts
The sole trader shares decisions with partners
The sole trader does not have to share business details with others
The business is audited by the government
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is responsible for management decisions in a sole trading concern?
A hired manager
A board of directors
The sole proprietor
The government
Create a free account and access millions of resources
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple

Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?
Popular Resources on Wayground
20 questions
Brand Labels
Quiz
•
5th - 12th Grade
11 questions
NEASC Extended Advisory
Lesson
•
9th - 12th Grade
10 questions
Ice Breaker Trivia: Food from Around the World
Quiz
•
3rd - 12th Grade
10 questions
Boomer ⚡ Zoomer - Holiday Movies
Quiz
•
KG - University
25 questions
Multiplication Facts
Quiz
•
5th Grade
22 questions
Adding Integers
Quiz
•
6th Grade
10 questions
Multiplication and Division Unknowns
Quiz
•
3rd Grade
20 questions
Multiplying and Dividing Integers
Quiz
•
7th Grade