AAT Level 3 Business Awareness Practice Questions - AAT Level 3 Diploma In Accounting (Q2022) - Business Awareness (BUAW) Exam

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A new business is set up by one person who keeps all the profits but is personally liable for all the debts of the business. Which type of business organisation is this?

Sole trader Limited liability partnership Private limited company Public limited company

Correct Answer:

Sole trader

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