Which Special Legislation Applies to a Sole Trader Business, as Distinct

question 4

Multiple Choice

Which special legislation applies to a sole trader business, as distinct from a business that has another structure?

• A)The Sole Traders Act 2000 (Cth)
• B)The Solo Trading Act 2000 (Qld)
• C)None
• D)The Australian Small Business Act 2009 (Cth)

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Definitions:

Public Good

This is a good that is non-excludable and non-rivalrous in consumption, meaning it can be used by everyone and one's use does not diminish another's.

Costs

The outlay or expenditure (monetary or otherwise) incurred by a business or individual in the process of producing or offering goods and services.

Benefits

The advantages or positive outcomes that come from specific actions, policies, or investments.

Principal-Agent Problem

The conflict that arises when the goals of principals, such as shareholders, differ from those of agents who make decisions on behalf of the principals, like executives.