Sole trader , partnership, close corporation

A partnership is an..................................between two or more people, who combine labour, capital, and resources towards a common goal.

State three (3)disadvantages of a sole trader business

Which of these businesses is a sole trader?

• Domino's
• Marks & Spencer
• Amazon
• Local Newsagent

Which of the following is an advantage of a partnership?

• Unlimited Liability
• Arguments
• Shared responsibility
• Less investors

Which of the following are advantages of a sole trader business?

• Personal wealth and asset are associated with the business

• Decisions are made easily

• Business continuity

• Close relationship with customers

What is the name of a person who owns a percentage part of a corporation?

• Stakeholder

• Shareholder

• Trust Agent

• Chairman

Which of the following are types of businesses?

• Sole Proprietor/Sole Trader and Partnership

• Corporation and Non-Profit

• Limited Partnership and LLC

• All of the above

Owned by one individual.

• Sole Trader

• Partnership

• Corporation

• None of the above

Who are the owners of companies?

• Shareholders

• Owners

• Directors

• Managers

Louise and Susan are meeting to plan a new advertising campaign for the town newspaper they own. What type of business do they have?

• Sole Proprietorship

• Partnership

• Corporation