Business in Mixed Economy

The Sole proprietor is responsible for all the debts of the business?

• True

• False

If a partner dies there is no guarantee that the business will continue.

• True

• False

Partners share expenses and management of the business.

• True

• False

Each partner is responsible for the debt of the company.

• True

• False

If the sole trader dies the business will continue.

• True

• False

Possible disagreements can happen between partners.

• True

• False

All profit does not belong to the sole proprietor.

• True

• False

It is easy for the sole proprietor to get a loan from the bank.

• True

• False

The sole proprietor needs less capital to start a business.

• True

• False

The partnership ____________ gives details such as the amount of salary to be paid to the partners