A Sole Trader is

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Prepare for the Year 11 Business Studies Exam with tailored study tools. Dive into flashcards and multiple-choice questions equipped with hints and detailed explanations. Ace your exam confidently!

Multiple Choice

A Sole Trader is

Explanation:
Being a sole trader means a business is owned and operated by a single person. This single-ownership setup distinguishes it from other structures that involve partnerships (two or more owners) or companies (owners are shareholders, either private or public). A sole trader is typically easy to set up and keeps all profits, but the owner often carries personal liability for business debts since the business isn’t a separate legal entity. The other descriptions refer to a partnership, a private company, and a public company, respectively.

Being a sole trader means a business is owned and operated by a single person. This single-ownership setup distinguishes it from other structures that involve partnerships (two or more owners) or companies (owners are shareholders, either private or public). A sole trader is typically easy to set up and keeps all profits, but the owner often carries personal liability for business debts since the business isn’t a separate legal entity. The other descriptions refer to a partnership, a private company, and a public company, respectively.

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