Singapore GCE O-Level Business Studies Practice Questions - Singapore GCE O-Level Business Studies (SEAB Syllabus 7085) Exam

What is a major characteristic of a sole trader business legal structure?

The business has a separate legal identity distinct from its owner The owner has unlimited liability for all business debts incurred Financial accounts must be publicly published with the corporate registrar Equity capital is raised by issuing shares to institutional investors

Correct Answer:

The owner has unlimited liability for all business debts incurred

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