Explain How and Why a Sole Trader Might Adopt a Discretionary

question 7

Essay

Explain how and why a sole trader might adopt a discretionary trust as their business structure.

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Definitions:

Personal Identity

Represents an individual's unique qualities, beliefs, and personality traits that distinguish them from others.

Personal Identity

An individual's sense of themselves, incorporating personal values, beliefs, and characteristics that distinguish them from others.

Relational

Pertaining to the connections and relationships between people, emphasizing how these connections influence behaviors and outcomes.

Two-Factor Theory

A theory in psychology proposing that emotional experiences arise from physiological arousal and cognitive labeling of the cause of that arousal.