How many people own a sole trader business?
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Sole Trader
Quiz
•
Business
•
7th Grade
•
Medium
Michele Edward
Used 224+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3
2
1
20
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A sole trader is
a business with one employee
a business selling one product
a business with one owner
a business with one shop/office
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is unlimited liability?
If the business fails you will not lose personal possessions
If the business fails you will lose personal possessions
If the business fails the debtors become shareholders
If the business fails the debtors take over
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A sole trader has responsibility for
preparing the accounts of the business
all aspects of their business
selling the products
completing spreadsheets
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A sole proprietor has to share the profits made by the business. True or False?
True
False
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Select TWO true statements that relate to a sole trader.
Sole traders have limited liability
Sole traders get to make all their own decisions about the business
Sole traders may find it harder to raise funds for the business
Sole traders usually get more holidays than partners or directors
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business has the most trouble getting financing?
Sole Trader
Partnership
Both
Neither
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