O-LevelAccountingThe fundamentals of accounting7707/11 · Oct/Nov 2019 · Q201 Mark

What is a disadvantage to a sole trader forming a partnership with another trader?

ALosses will be shared.

BMore capital will be available.

CProfits will be shared.

DRisks will be shared.

✓ Correct answer

C: Profits will be shared.

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill The fundamentals of accounting and see which topics are most likely to come up next.

About this question

Topic: The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2019 Paper 1 Variant 1, question 20.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Related Accounting questions

The fundamentals of accountingMay/June 20101m

What is the benefit of using information and communications technology in book-keeping and accounting?

The fundamentals of accountingMay/June 20101m

What is the accounting equation?

The fundamentals of accountingMay/June 20101m

Which group contains only trading businesses?

Verification of accounting recordsMay/June 20111m

Motor repairs of $250 have been posted in error to the motor vehicles account. What is the effect on the financial s…

Accounting proceduresMay/June 20111m

A machine was purchased on 1 January 2010 for $12 000. It has a working life of 8 years after which it will be sold …

Verification of accounting recordsMay/June 20111m

The difference on a trial balance is entered in a suspense account. A payment of $112 for general expenses had been …

← Browse all past-paper questions