Business Structures Flashcards
1
Q
What is 2 advantages of a Sole Trader
A
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2
Q
What is 2 advantages of a Partnership
A
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3
Q
What is 2 advantages of a Company
A
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4
Q
What is 2 disadvantages of a Sole Trader
A
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5
Q
What is 2 disadvantages of a Partnership
A
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6
Q
What is 2 disadvantages of a Company
A
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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.
