Question

Which of the following is not the feature of the sole trader? 

Individual Ownership

Limited Liability

Secrecy

Undivided Risk

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Answer 1

Answer:

secrecy is the answer..

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Answer 2

Answer:

The correct answer is Limited Liability.

Explanation:

The features of sole traders are as below:

1. Individual Ownership: The solitary trader is the sole owner of the business. The solo trader is the only owner of the company's assets and property.

2. Unlimited Liability: A solo trader's liability is unrestricted. This means he is solely accountable for the firm's risks and debts.

4. Complete business secrecy: A solo trader can keep his or her business completely confidential. He is not required to make any accounts or reports public. Competitors cannot easily obtain corporate secrets or information about the actions of a solo trader.

6. Undivided Risk: Efforts and rewards are inextricably linked. As a result, the solitary trader puts out his or her best efforts. As a result, he is entitled to all of his company's profits.

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