A sole trader form of business organisation:
A) consists of one individual who controls and manages the business.
B) must have at least two owners.
C) combines the records of the business with the personal records of the owner.
D) is classified as a separate legal entity.

Question

Quizplus · Accepted Answer

A sole trader is a form of business organisation that consists of one individual who controls and manages the business. It is not required to have multiple owners and the records of the business are combined with the personal records of the owner. A sole trader is not classified as a separate legal entity, which means that the owner is personally liable for any debts or legal issues that arise within the business.

A Sole Trader Form of Business Organisation