The Advantage of a Partnership Over a Sole Trader Business

question 32

Multiple Choice

The advantage of a partnership over a sole trader business structure is:

• A) limited liability.
• B) not required to prepare financial statements in accordance with accounting standards.
• C) mutual agency.
• D) greater access to skills and resources.

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Definitions:

Criminals

Individuals who have committed crimes, which are acts that violate the laws set forth by a legal system.

Communications Technologies

Tools and systems used for transmitting, receiving, and processing information.

Mass Media

Forms of communication, such as newspapers, magazines, radio, television, and the internet, that reach large audiences simultaneously.

Protestant Reformation

A movement in the 16th century that led to the creation of new Christian denominations separate from the Catholic Church, initiated by figures like Martin Luther and John Calvin.