Revision CA2 BS G9

Sole trader is ...

Why sole trader needs to go to Government Tax Office?

• to register name

• to submit legal documents

• to send annual report

• to get health and safety law

Being a sole trader is being his own boss. What does it means?

• they make their own decision, no need to wait others

• they can work any time at, also decide holiday

• they doesnt have give business information to Tax Office

• they doesnt have to share profits

Sole trader has unlimited liability. It makes them forced to the people the owe money to, which is ...

• customers

• local community

• government

• creditor

Limited liability is ...

Financing for sole trader is way limited than for partnerships, because sole trader tends to use their ... to fund the business.

• bank loan

• savings

• government grant

• shares

What is the reason banks are often reluctant to lend money to sole trader?

One of disadvantages for being a sole trader is ..., because no one will take control of the business for them when they die or sick.

• lack of finance

• lack of partnership

• lack of continuity

• lack of innovation

Owning and doing things solo in a business is a ...

• joint venture

• partnership

• sole trader

• joint venture

In country like India, what is the maximum limit is ... people in partnerships.

• 10

• 20

• 30

• 40