The Sole Trader

What does legal persona refer to?

• the legal right to own property

• the right to have a business

• the legal right to enter a contract

• the right to earn an income

What are the tax implications for a Sole Trader?

• 28%

• as an individual

• 45%

• as a company

A Sole Trader has _________ liability

• unlimited

• limited

What are the disadvantages of decision making as a Sole Trader?

*select all that apply

• dependent on others input

• own ideas only

• sole responsibility

• quick decision making

A Sole Trader is owned by ______.

Select the option that best fills the blank.

• A sole business

• 1 person

• a skilled family

• less than 3 people

Where does a Sole Trader get their capital from?

*Select all that apply.

• Business partners

• Savings

• Family

• Loans

A Sole Trader ceases to exist when?

*Select all that apply.

• The owner dies

• The ownership is transferred

• The owner retires

• The owner goes on vacation

A Partnership needs what to be valid.

• a valid registration

• a Partnership agreement