Company law in context
Company law in context

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Company law in context

3 Sole traders and partnerships as business mediums

3.1 Key themes and learning outcomes

The key themes of Part B are:

  • business mediums;

  • sole trader;

  • partnership or firm;

  • assets and liabilities.

After studying Part B, you should be able to:

  • identify the main types of business medium;

  • demonstrate an understanding of the key characteristics of businesses run as sole traders;

  • demonstrate an understanding of the key characteristics of businesses run in partnership;

  • identify in broad terms where the risks of business failure lie;

  • determine what are the assets and liabilities of a business using numeracy skills.


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