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11thgrade

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Chapter 4: Types of Business Organisation

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  • 1. Multiple Choice
    20 seconds
    1 pt
    The best definition of a sole trader is a business that
    only employs one person
    is owned by one person
    has a single customer
    is a single firm in the industry
  • 2. Multiple Choice
    20 seconds
    1 pt
    One of the advantages of a sole trader business is that
    owners have limited liability
    shares can be sold to raise capital
    decisions and responsibilities can be shared
    the owner has complete control over decision making
  • 3. Multiple Choice
    20 seconds
    1 pt
    One disadvantage of a sole trader business is that
    capital is limited to the owner's savings and bank loans
    decisions take too long to make
    owners may disagree 
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