Business Structures

Question 1

What is 2 advantages of a Sole Trader

Answer 1

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Question 2

What is 2 advantages of a Partnership

Answer 2

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Question 3

What is 2 advantages of a Company

Answer 3

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Question 4

What is 2 disadvantages of a Sole Trader

Answer 4

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Question 5

What is 2 disadvantages of a Partnership

Answer 5

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Question 6

What is 2 disadvantages of a Company

Answer 6

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Question 7

What is Unlimited Liability

Answer 7

If the business fails the personal assets of the owner can be used to repay business debts.`

Question 8

What is Limited Liability

Answer 8

If the business fails the personal assets of the owner cannot be used to repay business debts.