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O-LevelAccountingThe fundamentals of accounting7707/13 · Oct/Nov 2023 · Q211 Mark

What is an advantage of operating as a sole trader?

Abeing entitled to all profits
Bbeing responsible for all losses
Chaving limited liability
Dhaving unlimited liability

✓ Correct answer

A: being entitled to all profits

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About this question

Topic
The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2023 Paper 1 Variant 3, question 21.

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