Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is the main disadvantage of being a sole trader in terms of liability?
What is the main disadvantage of being a sole trader in terms of liability?
Limited liability: owner is legally responsible for all unpaid debts and can lose their private assets
What is a key characteristic of a not-for-profit organization in terms of taxes?
What is a key characteristic of a not-for-profit organization in terms of taxes?
Tax exempts, if approved by ATO
What is a major advantage of a small proprietary company in terms of finance?
What is a major advantage of a small proprietary company in terms of finance?
Far greater access to finance
What is one major challenge of starting a franchise business?
What is one major challenge of starting a franchise business?
Signup and view all the answers
Why do partnerships have the advantage of sharing losses and responsibilities?
Why do partnerships have the advantage of sharing losses and responsibilities?
Signup and view all the answers
