Advantages of Operating as a Sole Trader Are

question 47

Multiple Choice

Advantages of operating as a sole trader are:

• A) total control by the owner over all decisions.
• B) low start-up costs.
• C) limited liability.
• D) A and B

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Definitions:

Technopoly

A society that is overly dependent on technology, where technology dominates the culture, impacting human activities and social interactions.

Morality

Principles concerning the distinction between right and wrong or good and bad behavior.

Multinational Corporations

Large companies operating in several countries around the world, often with a centralized head office but decentralized operations and production.

Research and Development

The part of a business activity that is concerned with acquiring new knowledge and using it to develop new products, processes, or services or to improve existing ones.