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

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.

A major disadvantage of sole tradership isQuestion 17Answera.Unlimited Liabilityb.Easy formationc.Large Lifed.Secrecy

Which of the following is not a disadvantage of operating a business as a sole proprietorship?Multiple choice question.

Which of the following is a disadvantage of sole proprietorship?Group of answer choicesThe owner has few tax breaks.The owner retains few profitsThe business is difficult to start.The owner absorbs all losses.

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