O-LevelAccountingThe fundamentals of accounting7707/11 · May/June 2021 · Q171 Mark
What are the advantages of being a sole trader?
Aeasy to raise finance (✓), entitled to all profit (X), has total control (✓), has unlimited liability (✓)
Beasy to raise finance (✓), entitled to all profit (✓), has total control (✓), has unlimited liability (✓)
Ceasy to raise finance (✓), entitled to all profit (✓), has total control (X), has unlimited liability (✓)
Deasy to raise finance (X), entitled to all profit (✓), has total control (✓), has unlimited liability (✓)
✓ Correct answer
D: easy to raise finance (X), entitled to all profit (✓), has total control (✓), has unlimited liability (✓)
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.
Sign up free →