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Which of the following is a characteristic of a sole trader's final accounts?

Practice Questions

1 question
Q1
Which of the following is a characteristic of a sole trader's final accounts?
  1. Separate legal entity
  2. Unlimited liability
  3. Complex reporting requirements
  4. Multiple owners

Questions & Step-by-step Solutions

1 item
Q
Q: Which of the following is a characteristic of a sole trader's final accounts?
Solution: A sole trader has unlimited liability, meaning personal assets can be used to settle business debts.
Steps: 0

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