Multiple Choice
A sole trader is:
A) Entitled to business profits but not responsible for business losses.
B) The owner of a business that is a legal entity separate from its owner.
C) Personally liable for business debts and losses.
D) Jointly and severally liable for business losses.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q2: 'Joint and several liability' of partners means
Q3: A partner:<br>A)Is not personally liable for business
Q6: A trustee is the legal owner of
Q7: Jill sets up a trust for the
Q7: X and Y buy a house together,
Q8: Partners do not have an implied authority
Q9: X and Y are partners.Z is a
Q10: Which of the following is not one
Q13: Which of the following duties is not
Q17: Venardos and Aaberg agreed to enter into