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.

Identify the influence of reference groups on consumer attitudes and behaviors.

Understand the sources and types of information used in consumer decision-making processes.

Differentiate between types of consumer needs (functional, safety, psychological) and their influence on purchasing decisions.

Comprehend the concept of need recognition and its impact on consumer behavior.

---

Definitions:

Membrane

A thin layer of tissue or material that acts as a selective barrier, controlling the passage of substances in and out of cells or organelles.

Fontanels

Soft spots on a baby's skull where the bones have not yet fused, allowing for growth of the brain and skull during infancy.

Ossified

The process by which tissue is transformed into bone or a bony substance.

Epiphyseal Plates

Growth plates located at the ends of long bones where new bone growth occurs.