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WorksheetsThe Sole Trader
Total questions: 8
Worksheet time: 6mins
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
What are the tax implications for a Sole Trader?
28%
as an individual
45%
as a company
A Sole Trader has _________ liability
unlimited
limited
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
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
Where does a Sole Trader get their capital from?
*Select all that apply.
Business partners
Savings
Family
Loans
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
A Partnership needs what to be valid.
a valid registration
a Partnership agreement
