Which of the following best describes a sole trader?

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Study for the Edexcel A-Level Business Test. Dive into flashcards and multiple-choice questions, each with helpful explanations. Elevate your exam readiness today!

Multiple Choice

Which of the following best describes a sole trader?

Explanation:
A sole trader is a business owned and run by one person who keeps all the profits and makes all the decisions. This description fits best because the defining feature is single ownership and direct control by one individual. The other descriptions point to different business forms: a company whose shares are traded refers to a publicly listed business with many shareholders; a non-profit organization operates not for profit for a charitable or social purpose; a business with multiple owners describes partnerships or companies owned by more than one person.

A sole trader is a business owned and run by one person who keeps all the profits and makes all the decisions. This description fits best because the defining feature is single ownership and direct control by one individual.

The other descriptions point to different business forms: a company whose shares are traded refers to a publicly listed business with many shareholders; a non-profit organization operates not for profit for a charitable or social purpose; a business with multiple owners describes partnerships or companies owned by more than one person.

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