True or False? “A Sole Trader is not assumed to be the Beneficial Owner of a business.”

True or false. A sole trader has unlimited liability.False1True

Which of the following is not a feature of a sole trader?The customers and the business are close to each otherThe sole trader owns and runs the businessThe sole trader and the business are not legally distinctUnlimited finance

There are disadvantages to being a sole trader. Select all that apply.Select ALL correct optionsThe business ceases to operate if the owner dies1Finances for the business are limited to the owner's financial situation2The owner needs to be multi-skilled and perform a wide variety of tasks3None of the above

The owner of a sole trader business has total control of the business.صحخطأ

Which of the following is an advantage of being a sole trader?Group of answer choicesA sole trader business is inexpensive to set up and easy to wind down.A sole trader has limited access to skills and resources.A sole trader pays less tax.A sole trader has unlimited liability.