N5 - Sole Trader

N5 - Sole Trader

8th Grade

6 Qs

quiz-placeholder

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N5 - Sole Trader

N5 - Sole Trader

Assessment

Quiz

Business

8th Grade

Easy

Created by

Bianca Mourik

Used 5+ times

FREE Resource

6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A sole trader has how many owners?

2-4

1

4-10

10+

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

There is three sectors of economy; a sole trader sits in?

Private sector

Public sector

Third sector

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A sole trader has to share their profit

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does unlimited liability mean?

The owner is responsibility for paying everything back in full when there's debt - even if that means having personal possessions taken

They have unlimited money available

The individual owner only has to pay part of the debt - what they can afford

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Owners get to make all their own

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A sole trader, most of the time, has to do very little work

True

False