O-LevelAccountingThe fundamentals of accounting7707/13 · Oct/Nov 2021 · Q181 Mark

What are advantages of operating as a sole trader? 1 The owner can keep all the profit. 2 The owner can raise finance by issuing debentures. 3 The owner can make decisions independently. 4 The owner is protected by limited liability.

A1 and 3

B1 only

C2 and 3

D2 and 4

✓ Correct answer

A: 1 and 3

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Topic: The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2021 Paper 1 Variant 3, question 18.

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What are advantages of operating as a sole trader? 1 The owner can keep all the profit. 2 The owner can raise finance by issuing debentures. 3 The owner can make decisions independently. 4 The owner is protected by limited liability.

✓ Correct answer

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