Business Management and Accounting

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Business Management and Accounting Exam

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What is a business? - answer-establishment where money is traded for a good or service Good - answer-tangible / physical item that can be stored Service - answer-an intangible item that cannot be stored Sole Trader - answer-- owned and operated by one person - owner has total responsibility - owner has sole right to all profits Sole Trader Advantages - answer-- simple and inexpensive to start up - owner keeps all profit - owner makes important decisions on their own Sole Trade...

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Business Management and Accounting • Business Management and Accounting