Sole trader Study guides, Revision notes & Summaries

IB Business and Management Vocabulary 2023 Update Primary Sector - Answer-Businesses involved in the extraction of natural resources, such as farming, mining, fishing, etc. Secondary Sector - Answer-Business activity is concerned with the construction and manufacturing of physical products. Tertiary Sector - Answer-Business activity is concerned with the provision of services to customers Private Sector - Answer-Part of the economy under the control of private individuals and busin...

PINV05B Assignment 2 (DETAILED ANSWERS) 2023 () - DUE 30 August 2023, 8:00 AM 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25477 954 0132 . ASSIGNMENT 02 DUE DATE: 30 August 2023, 8:00 AM UNIQUE NUMBER: Unless otherwise indicated, you are required to give full reasons for your answers. 1 On 29 June 2021, Manufacturing Ltd purchased a new R2million (excluding VAT) machine for its manufacturing process and immediately put it to work (i.e. brou...

CIPS L3M1Private incorporated companies are... - correct answer Seperate from their owners Private unincorporated companies have... - correct answer No legal distinction from their owners Sole trader - correct answer Those with exclusive ownership of a business Partnerships - correct answer Legal forms of a business with 2+ owners General partnership - correct answer a type of partnership in which all partners share equally in both responsibility and liability Limited liabili...

What is vat charged on - Answer The sale of taxable supplies by a taxable person What is a taxable person - Answer a sole trader, partnership, limited company, club or association making taxable supplies What is a taxable supply - Answer One one which output vat is chargeable and input vat can be recovered and will be zero rated, reduced rated or standard rated. When will the vat rates differ from normal - Answer Before 2011. This is particularly applicable when looking at purch...

Principles of Accounting Real Exam Questions With All Correct Detailed Answers Who might want to use financial statements? - ANSWER- - Owners of the business - Management - Employees - Creditors - HM Revenue and Customs - Banks and other lenders What are the four main forms of business mediums? - ANSWER- 1) Sole trader 2) Partnership 3) Company 4) Limited liability partnerships (LLPs) What happens if a sole trader incurs a liability in their business dealings and the earnings of...

GCSE BUSINESS 8132/2 Paper 2 Influences of marketing and finance on business activity Version: 1.0 Final *JUN* IB/G/Jun23/E8 8132/2 Monday 12 June 2023 Afternoon Time allowed: 1 hour 45 minutes Materials For this paper you must have: • a calculator. Instructions • Use black ink or black ball-point pen. • Fill in the boxes at the top of this page. • Answer all questions. • You must answer the questions in the spaces provided. Do not write outside the box around each pa...

[BUSINESS] PAPER 1A EDEXCEL GCSE BUSINESS QUESTION ONLY – INVESTIGATING SMALL BUSINESS Edexcel GCSE Business Paper 1a Section A ANSWER ALL QUESTIONS. WRITE YOUR ANSWERS IN THE SPACES PROVIDED 1 (a) Which one of the following is not a risk of running a business? Select one answer: A Financial loss B Lack of security C Independence D Business failure (1) (b) Which one of the following is an example of secondary market research? Select one answer: A ...

Sole trader A sole trader is a business that is run and owned by one person. The sole owner provides all financing and is responsible for decision making. What are the advantages of being a sole trader? Owner keeps all profits: All profits are kept and the owner doesn't have to share with partners Low cost of entry: It doesn't cost much, so a sole trade can operate right away e.g don't have to register Complete control of the business: owner has full control, is able to make decision...

Money - Answer Simply a means of exchanging value between parties Markets - Answer Facilitates buyers and sellers interacting Role of Financial System - Answer Ensure scarce resources are used effectively Business Structures - Answer Sole Trader Partnership Companies Financial Goal of Companies - Answer Maximise shareholder wealth Why isn't Profits the Goal? - Answer Hard to Define Time Value of Money Ignores Uncertainty Factors Affecting Share Price - Answer ...

AQA 2023 A-level ACCOUNTING 7127/2 Paper 2 Accounting for analysis and decision-making Question Paper & Mark scheme (Merged) June 2023 [VERIFIED] Candidate number I declare this is my own work. A-level ACCOUNTING Paper 2 Accounting for analysis and decision-making Tuesday 6 June 2023 Morning Time allowed: 3 hours Materials For this paper you must have: • a calculator. Instructions • Use black ink or black ball-point pen. • Fill in the boxes at the top of this page. • A...