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SingaporeAccountingQuick questions
The Accounting Environment and Equation
Quick questions on Forms of business and the sole trader: N(A)-Level Principles of Accounts
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
State what is meant by unlimited liability. [2 marks]
What is q2?Show answer
A sole trader takes \300$ of goods from the shop for personal use. How is this treated? [2 marks]
What is q3?Show answer
Explain one reason why someone might choose to be a sole trader rather than form a company. [2 marks]
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