Sole trader Flashcards
1
Q
do u keep all the profits if you are a sole trader?
A
yes
2
Q
are you autonomous?
making all the decisions
A
yes
3
Q
can you multitask?
A
no
4
Q
do you have limited capital?
A
no
5
Q
do you have unlimited liability?
A
no
6
Q
if you have limited liability, what can happen to the business owner?
A
the business owner can loose possessions if the business has debts.
7
Q
but what can also happen with limited liability?
A
business owner can have less risks and can only loose capital invested
