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JAMB Economics 1980 Question 17

Question 17

Business Organisations

Which would you NOT consider an advantage of a one-man business?

  1. A.Freedom of action
  2. B.Limited liability
  3. C.Quick decision-making
  4. D.Personal contact with customers
  5. E.None of the above.
Show the answer and explanation

Answer: B (Limited liability)

Explanation

A sole trader has unlimited liability, so limited liability is not one of its advantages.