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Business Studies > Sole Trader > Flashcards

Sole Trader Flashcards

1
Q

Ownership

A

One singular owner

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2
Q

Liability

A

Unlimited liability

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3
Q

Finance

A

Owners own capital bank loans

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4
Q

Control /decision making

A

Total control, owner makes all decisions

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5
Q

Advantages

A

Low start up costs, keep all profits, control, financial privacy, flexible working hours

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6
Q

Disadvantages

A

Unlimited liability, lack of capital, long hours

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Business Studies (9 decks)

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