logo

Cambridge IGCSE Accounting practice

What is a key advantage of being a sole trader?

Try the question first, then check the answer and practise the same topic again.

Show answerSole traders revisionRevise the key idea

At a glance

MCQ

Type

cambridge_mcq

Style

Topic

Sole traders

Exam-style question

Try this first

What is a key advantage of being a sole trader?.

  1. A.Limited liability
  2. B.Full control
  3. C.Complex structure
  4. D.Shared profits

Answer and explanation

Attempt the question first, then reveal the model answer and explanation.

Common mistake

No common mistake is linked to this question yet.

Related flashcards

Flashcard 1 of 6

Press Space to flip, arrows to move

Related practice questions

Question 1 of 5

Choose an answer, get feedback, then move sideways through the set.

0 of 3 attempted

Paper 2 structured question: Sole traders

Paper 2Structured Written Paper1 marks

Description

Financial Overview

The shop has total assets of $50,000, total liabilities of $20,000, and owner's equity of $30,000 as of December 31.

  1. a

    Calculate the owner's equity based on the provided financial overview.

    Aim for approximately 1 distinct marking point.

    [1]