Business Structures Flashcards
1
Q
What is 2 advantages of a Sole Trader
A
Not done
2
Q
What is 2 advantages of a Partnership
A
Not done
3
Q
What is 2 advantages of a Company
A
Not done
4
Q
What is 2 disadvantages of a Sole Trader
A
Not done
5
Q
What is 2 disadvantages of a Partnership
A
Not done
6
Q
What is 2 disadvantages of a Company
A
Not done
7
Q
What is unlimited liability
A
If the business fails, the personal assets of the owner can be used to repay business debts
8
Q
What is limited liability
A
If the business fails, the personal assets of the owner cannot be used to repay business debts
