When the Owner of a Sole Trader Dies, What Becomes

question 150

Multiple Choice

When the owner of a sole trader dies, what becomes of the business?

• A) The employees take over the business.
• B) It ceases to exist unless the heirs take it over or sell it.
• C) It is automatically auctioned to the highest bidder.
• D) It ceases to exist, and no one may legally take it over.
• E) It may continue existing but only under a new name.

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Definitions:

Hispanic-Owned Businesses

Firms where the ownership is majorly held by individuals of Hispanic descent, often tracked for demographic and economic analysis.

Self-Employment

The status of working for oneself as a freelancer or the owner of a business rather than for an employer.

Competitive Advantage

An attribute or condition allowing a company to outperform its competitors, such as superior product quality, cost leadership, or a unique distribution network.

Marketing Concept

A business philosophy suggesting that the success of a company is dependent on effectively researching and meeting the needs and wants of its customers.