
sole trader quiz
Authored by Darren Hurst
Business
8th Grade

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a sole trader?
A type of partnership
A business owned and run by one person
A public limited company
A business owned and run by multiple people
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a sole trader's business?
A government agency
A local bakery
A multinational corporation
A public school
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is unlimited liability?
When the business owner is personally responsible for all the business's debts
When a business has no financial obligations
When a business can borrow unlimited funds
When a business's financial obligations are limited to its assets
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What tax does a sole trader pay on their earnings?
Property tax
Income tax
Corporate tax
Sales tax
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an advantage of being a sole trader?
Limited control over the business
Opportunity to be your own boss
High set-up costs
Limited liability
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a disadvantage of being a sole trader?
Less paperwork
Low set-up costs
Quick and easy to set up
High level of responsibility
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What might a sole trader experience due to the nature of their business?
Short work hours
Less stress
Long work hours and stressful conditions
No responsibility
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