MSCE Business Studies Practice Questions - Malawi School Certificate Of Education - Business Studies (MANEB) Exam

A sole trader is best described as a business that is:

Owned and controlled by one person who takes all profits and bears unlimited liability Owned by at least twenty shareholders with limited liability only Always owned by the government of Malawi Required by law to list on a stock exchange

Correct Answer:

Owned and controlled by one person who takes all profits and bears unlimited liability

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