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This means the owner is legally responsible for the business’s actions, debts and obligations."},{"text":"The business has a separate legal identity from its owner, with limited liability.","correct":false,"explanation":"This describes an incorporated business, such as a limited company. An unincorporated business has no separate legal identity, so the owner may be personally responsible for its debts."},{"text":"The business is owned by shareholders, with directors managing it.","correct":false,"explanation":"Shareholders and directors are features of companies rather than unincorporated businesses. In an unincorporated business, the owner or partners and the business are legally connected."},{"text":"The owner is protected from business debts by the business’s separate identity.","correct":false,"explanation":"This confuses unincorporated businesses with limited companies. Because there is no separate legal identity, the owner may have to use personal assets to repay business debts."}]},{"id":"f7a58d2d-fc32-4bf8-b3ef-31b8e405fc7a","cardType":"basic","points":1,"front":"Which two business structures are unincorporated?","back":"Sole trader and partnership.","mcqOptions":[{"text":"Sole trader and partnership.","correct":true,"explanation":"A sole trader is owned by one person and a partnership is owned by two or more partners. Neither structure creates a separate legal identity from its owners."},{"text":"Private limited company and public limited company.","correct":false,"explanation":"Both types of limited company are incorporated and have a separate legal identity. The unincorporated structures in this topic are sole traders and partnerships."},{"text":"Sole trader and private limited company.","correct":false,"explanation":"A sole trader is unincorporated, but a private limited company is incorporated. Incorporation gives the company its own legal identity separate from its owners."},{"text":"Partnership and public limited company.","correct":false,"explanation":"A partnership is unincorporated, while a public limited company is incorporated. Public companies have a separate legal identity and can offer shares to the public."}]},{"id":"34597ea1-f88d-4c58-b40b-15f784b7f40e","cardType":"basic","points":2,"front":"Why do owners of unincorporated businesses have unlimited liability?","back":"Business debts are personally owed by the owner, so personal possessions may be used to repay them.","mcqOptions":[{"text":"Business debts are personally owed by the owner, so personal possessions may be used to repay them.","correct":true,"explanation":"There is no separate legal identity to hold the debts independently. If the business cannot pay, the owner may be required to use personal possessions to repay creditors."},{"text":"The owner’s liability is limited to the amount invested in the business.","correct":false,"explanation":"Limiting liability to the investment is a feature of incorporated businesses. An unincorporated owner can remain responsible for all business debts, even beyond the original investment."},{"text":"The government automatically repays the business’s debts when it makes a loss.","correct":false,"explanation":"Government does not normally pay private business debts. Unlimited liability means the owner personally carries the risk when business assets and income are insufficient."},{"text":"Partners and owners are never responsible for supplier debts.","correct":false,"explanation":"Unincorporated owners can be personally responsible for debts owed to suppliers and lenders. This responsibility is the opposite of the protection provided by limited liability."}]},{"id":"e514e12f-27a9-4304-97bc-1852e56c545b","cardType":"basic","points":1,"front":"What is a sole trader?","back":"A business owned and controlled by one person, who keeps the profit and carries the risk.","mcqOptions":[{"text":"A business owned and controlled by one person, who keeps the profit and carries the risk.","correct":true,"explanation":"A sole trader has one owner who controls the business and receives its profit after tax. The same owner also bears the business risk and may have unlimited liability."},{"text":"A business owned and controlled by two or more partners, who share the profit and risk.","correct":false,"explanation":"This describes a partnership, not a sole trader. A sole trader has one owner, although employees or advisers may still help run the business."},{"text":"A business owned by shareholders, with managers controlling daily operations.","correct":false,"explanation":"This describes a company structure. A sole trader does not issue shares and has one individual as the owner and main controller."},{"text":"A business run by one employee on behalf of several investors.","correct":false,"explanation":"The number of employees does not define a sole trader, and investors do not own it through shares. It is defined by having one individual owner who carries the risk."}]},{"id":"11431bbf-fe0e-4efd-9f40-7ad22e34535a","cardType":"basic","points":2,"front":"Why is a sole trader easy and cheap to set up?","back":"The owner registers with HMRC and can start trading within days with low start-up costs.","mcqOptions":[{"text":"The owner registers with HMRC and can start trading within days with low start-up costs.","correct":true,"explanation":"Setting up as a sole trader usually involves registering with HMRC rather than completing complex company formation procedures. This keeps administrative requirements and initial costs relatively low."},{"text":"The owner must issue shares publicly before trading, creating high start-up costs.","correct":false,"explanation":"Sole traders do not issue shares publicly. Public share issues are associated with public limited companies and involve substantially more regulation and expense."},{"text":"The business must appoint a board of directors and publish accounts before opening.","correct":false,"explanation":"Sole traders do not need a board of directors or publicly published accounts. These requirements are associated with incorporated companies, not this simple structure."},{"text":"The owner needs court approval and a formal partnership agreement before trading.","correct":false,"explanation":"Court approval and a partnership agreement are not normal requirements for becoming a sole trader. The owner generally registers for tax and meets the relevant trading requirements."}]},{"id":"1b78a70c-21ab-406e-af51-62b9a3977877","cardType":"basic","points":2,"front":"What is the main decision-making advantage of being a sole trader?","back":"One owner makes all decisions, so the business can react quickly.","mcqOptions":[{"text":"One owner makes all decisions, so the business can react quickly.","correct":true,"explanation":"A sole trader does not normally need to consult partners or shareholders before acting. This can make responses to customers, competitors and changing conditions fast."},{"text":"Several owners debate each decision, so the business can avoid all mistakes.","correct":false,"explanation":"Several owners would describe shared ownership rather than sole trading, and discussion cannot eliminate every mistake. A sole trader’s advantage is speed, although decisions may lack challenge."},{"text":"The government makes decisions for the owner, so the business can reduce its workload.","correct":false,"explanation":"Government does not run the day-to-day business decisions of a sole trader. The owner controls those decisions, which allows speed but also places the responsibility on one person."},{"text":"Shareholders vote on every decision, so the business can raise finance instantly.","correct":false,"explanation":"Sole traders have no shareholders voting on business decisions. Their decision-making advantage comes from having one owner, while raising finance is usually more limited."}]},{"id":"a59e9541-41a9-4ca3-be82-89ba8c97be85","cardType":"basic","points":2,"front":"What is a disadvantage of sole-trader decision-making?","back":"There is nobody to share the workload or challenge a bad decision.","mcqOptions":[{"text":"There is nobody to share the workload or challenge a bad decision.","correct":true,"explanation":"A sole trader carries decision-making responsibility alone. Without partners to divide tasks or question ideas, the owner may become overworked and make poorer decisions."},{"text":"There are too many partners to agree on every decision.","correct":false,"explanation":"This is a possible partnership problem, not a sole-trader problem. A sole trader has one decision-maker, so disagreement between owners is not the issue."},{"text":"Shareholders can overrule the owner’s decisions at any time.","correct":false,"explanation":"A sole trader does not have shareholders with voting rights. The disadvantage is that the owner lacks another owner’s support and constructive challenge."},{"text":"The owner must wait for government permission before making routine decisions.","correct":false,"explanation":"Government approval is not normally needed for routine sole-trader decisions. The owner can act quickly, but must personally handle the workload and consequences."}]},{"id":"52548138-a3b4-4abd-8711-1489d5bb2ef1","cardType":"basic","points":2,"front":"Why does a sole trader keep all the profit?","back":"There are no partners or shareholders to share it with, so all profit after tax belongs to the owner.","mcqOptions":[{"text":"There are no partners or shareholders to share it with, so all profit after tax belongs to the owner.","correct":true,"explanation":"A sole trader is the only owner, so there are no co-owners entitled to a share of the profit. The owner receives the profit after the business’s costs and tax are paid."},{"text":"The profit is automatically transferred to the government because the business has one owner.","correct":false,"explanation":"The owner pays the relevant tax, but the government does not receive all the profit. After costs and tax, the remaining profit belongs to the sole trader."},{"text":"The profit is divided equally between the owner and all employees.","correct":false,"explanation":"Employees may receive wages or bonuses, but they do not automatically own or share the business’s profit. A sole trader retains the profit after costs and tax."},{"text":"The profit belongs to the business’s shareholders, even though there is one owner.","correct":false,"explanation":"A sole trader does not have shareholders or issue shares. The individual owner is entitled to the remaining profit after business costs and tax."}]},{"id":"5a9fb3ec-11f1-4f8f-b103-7fff239b96f8","cardType":"basic","points":2,"front":"Why can a sole trader offer flexible working hours?","back":"The owner sets their own hours, allowing work to fit around family commitments.","mcqOptions":[{"text":"The owner sets their own hours, allowing work to fit around family commitments.","correct":true,"explanation":"A sole trader has control over when the business operates and when the owner works. This can make it easier to arrange work around personal or family responsibilities."},{"text":"The owner must work fixed hours set by shareholders, which protects family time.","correct":false,"explanation":"Sole traders do not have shareholders setting their hours. Flexible working comes from the owner’s control, although customer needs may still limit that flexibility."},{"text":"Employees choose the owner’s hours, allowing the owner to avoid all business responsibilities.","correct":false,"explanation":"Employees do not normally determine a sole trader’s working hours, and ownership responsibilities remain with the owner. Flexibility changes the schedule, not the responsibility."},{"text":"The government assigns different shifts each week, making personal planning easier.","correct":false,"explanation":"Government does not usually assign a sole trader’s working shifts. The owner chooses the hours, subject to the practical demands of running the business."}]},{"id":"84d69fd6-0e86-41b3-8043-71d624297bcb","cardType":"basic","points":2,"front":"Why are sole-trader accounts private?","back":"Accounts are not published, so competitors cannot look up the business's earnings.","mcqOptions":[{"text":"Accounts are not published, so competitors cannot look up the business's earnings.","correct":true,"explanation":"Sole traders generally do not have to publish their accounts publicly. Keeping financial information private can prevent competitors from easily examining their earnings."},{"text":"Accounts are published by Companies House, so competitors can check the business’s earnings.","correct":false,"explanation":"Sole traders generally do not file publicly available company accounts at Companies House. This public filing requirement is associated with incorporated companies."},{"text":"Accounts are sent to every customer, so competitors can verify the business’s prices.","correct":false,"explanation":"Customers do not automatically receive a sole trader’s accounts. The relevant advantage is that the accounts are not generally published for public or competitor access."},{"text":"Accounts are hidden from the owner, so competitors cannot calculate the earnings.","correct":false,"explanation":"The owner must keep their own financial records and use them for tax and business decisions. Privacy means the public cannot normally access the accounts, not that the owner cannot."}]},{"id":"8f8c257e-b2cc-4536-876e-ccb54f6daac3","cardType":"basic","points":3,"front":"What sources of finance are available to a sole trader?","back":"

Savings, family finance or retained profit
Bank loan or overdraft

","mcqOptions":[{"text":"

Savings, family finance or retained profit
Bank loan or overdraft

","correct":true,"explanation":"A sole trader can use internal finance such as savings, family finance or retained profit, and external finance such as a bank loan or overdraft."},{"text":"

Share issue, venture capital or retained profit
Government ownership or overdraft

","correct":false,"explanation":"Sole traders cannot raise finance by issuing shares, and government ownership is not a normal source of sole-trader finance. Personal funds, retained profit and borrowing are relevant sources."},{"text":"

Customer donations, family finance or retained profit
Shareholders’ dividends or mortgage

","correct":false,"explanation":"Customer donations and shareholders’ dividends are not standard finance sources for a sole trader, which has no shareholders. Bank borrowing and personal or retained funds are more appropriate."},{"text":"

Trade credit, shareholders’ capital or retained profit
Public share issue or government grant

","correct":false,"explanation":"A sole trader cannot obtain shareholders’ capital or use a public share issue because there are no shares. Trade credit or grants may sometimes be available, but this list omits the stated core sources."}]},{"id":"80e0d304-762b-4e66-af8b-a5a97b4d6c6b","cardType":"basic","points":2,"front":"Why might banks lend cautiously to a sole trader?","back":"The business may own few assets to offer as security.","mcqOptions":[{"text":"The business may own few assets to offer as security.","correct":true,"explanation":"Banks often want assets as security in case a loan is not repaid. A small sole-trader business may have few valuable assets, increasing the bank’s lending risk."},{"text":"The business may own many valuable assets that guarantee repayment.","correct":false,"explanation":"Many valuable assets would usually make lending less risky because they could provide security. Cautious lending is more likely when the sole trader has few assets."},{"text":"The owner has too many shareholders to approve the loan.","correct":false,"explanation":"A sole trader has one owner and no shareholders whose approval is needed. Banks may be cautious because of limited security or uncertain income, not shareholder numbers."},{"text":"The business is required to borrow only from customers.","correct":false,"explanation":"Sole traders can apply to banks for loans and overdrafts. The concern is whether enough assets are available as security, not a rule preventing bank borrowing."}]},{"id":"e77ca525-2328-44c3-a4e9-2330a9ac7025","cardType":"basic","points":2,"front":"What could unlimited liability mean for a sole trader?","back":"Personal possessions such as the owner's car or home could be sold to pay business debts.","mcqOptions":[{"text":"Personal possessions such as the owner's car or home could be sold to pay business debts.","correct":true,"explanation":"Unlimited liability can expose the owner’s personal assets when business assets cannot cover debts. Creditors may seek repayment from possessions such as a car or home."},{"text":"Only the business’s stock could be sold to pay business debts.","correct":false,"explanation":"Limiting repayment to business assets describes limited liability more closely. With unlimited liability, the owner’s personal possessions may also be used to repay debts."},{"text":"The owner’s personal possessions are automatically transferred to customers when the business makes a loss.","correct":false,"explanation":"Customers do not automatically receive the owner’s possessions. Personal assets may be used to satisfy legitimate business debts owed to creditors."},{"text":"The owner receives compensation for personal possessions whenever debts arise.","correct":false,"explanation":"Unlimited liability creates personal financial risk rather than compensation. The owner may have to sell personal possessions, without receiving protection from business losses."}]},{"id":"dd1809ce-87f2-40bc-93c8-bd6e250729f4","cardType":"basic","points":2,"front":"What happens to a sole trader's business when the owner retires, sells up or dies?","back":"It normally ends because it has no separate legal life.","mcqOptions":[{"text":"It normally ends because it has no separate legal life.","correct":true,"explanation":"The business is legally tied to its sole owner, so retirement, sale or death normally brings that particular business to an end. It cannot continue as a separate legal person."},{"text":"It automatically continues under government ownership after the owner retires.","correct":false,"explanation":"The government does not automatically take over a sole trader’s business. Without arrangements to transfer or sell it, the business normally ends when the owner leaves."},{"text":"It becomes a public limited company without any legal changes.","correct":false,"explanation":"A sole trader does not automatically become a company. Continuing under a different structure would require deliberate legal and administrative changes."},{"text":"It continues indefinitely because employees become shareholders.","correct":false,"explanation":"Employees do not automatically become shareholders when a sole trader leaves. The lack of separate legal life means the business normally ends unless it is transferred or restructured."}]},{"id":"25fada54-6142-4cc1-b6f3-ff5a85314b2c","cardType":"basic","points":2,"front":"Why can a partnership usually raise more start-up capital than a sole trader?","back":"Every partner can invest, giving the business more money than one owner could raise alone.","mcqOptions":[{"text":"Every partner can invest, giving the business more money than one owner could raise alone.","correct":true,"explanation":"A partnership can combine the personal funds of several partners. This may provide more start-up capital than relying on one sole trader’s savings and borrowing capacity."},{"text":"Only the oldest partner can invest, ensuring finance is centrally controlled.","correct":false,"explanation":"All partners may contribute capital, subject to their agreement. Restricting investment to one partner would remove the partnership’s potential advantage of combining several owners’ funds."},{"text":"Customers must buy shares, giving the business unlimited start-up capital.","correct":false,"explanation":"Partnerships do not raise capital through public share ownership, and no business has unlimited finance automatically. Their advantage comes from contributions by the partners themselves."},{"text":"The government pays each partner’s costs, so no private finance is needed.","correct":false,"explanation":"Government does not normally pay all start-up costs for partnerships. Partners can invest their own money, while the business may also seek borrowing or other finance."}]},{"id":"83a1dd4d-213f-4364-bc31-ebf8c17cf6e8","cardType":"basic","points":3,"front":"What benefits can partners bring through shared workload and expertise?","back":"

Partners bring different specialisms.
They can cover for each other.

","mcqOptions":[{"text":"

Partners bring different specialisms.
They can cover for each other.

","correct":true,"explanation":"Partners can contribute complementary knowledge and skills, while sharing tasks and covering absences. This can improve the quality and continuity of running the business."},{"text":"

Partners bring identical skills.
They must work every hour together.

","correct":false,"explanation":"Identical skills provide less complementary expertise, and partners do not have to work every hour together. The benefits are different specialisms and the ability to cover for one another."},{"text":"

Partners bring separate businesses.
They can avoid all responsibility.

","correct":false,"explanation":"Partners join ownership of one business rather than simply bringing separate businesses, and responsibility is shared rather than avoided. Their practical benefit is expertise and workload coverage."},{"text":"

Partners bring fewer areas of knowledge.
They can delegate every task to employees.

","correct":false,"explanation":"A partnership can increase the range of knowledge through different specialisms. Partners may delegate some work, but they remain responsible for running the business and cannot rely on employees for every task."}]},{"id":"45d1f16f-d7a6-4944-a08b-c40f0357573b","cardType":"basic","points":2,"front":"Why can shared control slow partnership decisions?","back":"Decisions have to be agreed between partners, and disagreements can stall the business.","mcqOptions":[{"text":"Decisions have to be agreed between partners, and disagreements can stall the business.","correct":true,"explanation":"Shared control means partners must reach agreement before important decisions are made. If they disagree, discussion can take time or prevent a decision altogether, slowing the business."},{"text":"Decisions can be made by any one partner, even when others disagree.","correct":false,"explanation":"A single partner cannot normally decide everything without considering the others. The correct reason is that decisions have to be agreed between partners, so disagreements can stall the business."},{"text":"Decisions have to be approved by every customer, and this can delay the business.","correct":false,"explanation":"Customers do not usually approve partnership decisions. The delay comes from decisions having to be agreed between partners, particularly when the partners disagree."},{"text":"Decisions are made only after a government vote, which can hold up the business.","correct":false,"explanation":"The government does not normally vote on a partnership's everyday decisions. Shared control causes delay because decisions have to be agreed between partners."}]},{"id":"95719e8d-4c12-420a-958e-f2d5da75ce9c","cardType":"basic","points":2,"front":"Why does each partner usually earn less profit than a sole trader?","back":"Partnership profit is split between the partners.","mcqOptions":[{"text":"Partnership profit is split between the partners.","correct":true,"explanation":"A partnership's profit is shared between its partners according to their agreement or the relevant legal rules. Each partner therefore usually receives less than a sole trader keeping all the profit."},{"text":"Partnership profit is paid to the employees instead.","correct":false,"explanation":"Employees may receive wages, but they do not automatically receive the owners' profit. The correct explanation is that partnership profit is split between the partners."},{"text":"Partnership profit is split between the customers.","correct":false,"explanation":"Customers pay the business and do not normally receive its profit. Each partner usually earns less because partnership profit is split between the partners."},{"text":"Partnership profit is kept entirely by the business.","correct":false,"explanation":"Profit belongs to the owners rather than remaining permanently undistributed in the business. Each partner usually earns less than a sole trader because profit is split between the partners."}]},{"id":"c7a0ee73-de0b-4efe-b82a-0d1e2132ef2c","cardType":"basic","points":1,"front":"What is a deed of partnership?","back":"A written agreement setting out what the partners have agreed.","mcqOptions":[{"text":"A written agreement setting out what the partners have agreed.","correct":true,"explanation":"A deed of partnership is a written agreement that records the partners' arrangements, such as profit shares, responsibilities, capital contributions and voting rights."},{"text":"A verbal agreement setting out what the partners have agreed.","correct":false,"explanation":"A verbal arrangement is not a deed of partnership because a deed records the agreement in writing. The correct definition is a written agreement setting out the partners' decisions."},{"text":"A marketing plan setting out how the business will attract customers.","correct":false,"explanation":"A marketing plan focuses on promotion and customers, not the partners' legal and financial arrangements. A deed of partnership is a written agreement recording what the partners have agreed."},{"text":"A financial forecast estimating the business's future sales and costs.","correct":false,"explanation":"A financial forecast predicts future performance, whereas a deed records the partners' agreed arrangements. The correct definition is a written agreement setting out what they have agreed."}]},{"id":"2235788a-3fc6-4c59-93c4-7980cb962487","cardType":"cloze","points":null,"front":"A deed of partnership can state how profits are shared and what [ ] each partner receives.","back":"A deed of partnership can state how profits are shared and what salary each partner receives.","mcqOptions":[{"text":"salary","correct":true,"explanation":"A deed of partnership can specify the salary paid to each partner, alongside the way profits are shared. Salary refers to regular payment for a partner's work."},{"text":"dividend","correct":false,"explanation":"A dividend is normally a distribution paid to shareholders by a company, not the partner payment named here. The correct term is salary, which a deed can specify for each partner."},{"text":"invoice","correct":false,"explanation":"An invoice requests payment from a customer and is not a payment received by a partner. The correct term is salary, which can be recorded in the deed."},{"text":"royalty","correct":false,"explanation":"A royalty is payment for using intellectual property or another asset, not the regular partner payment in this sentence. The correct term is salary."}]},{"id":"f8a37287-f8a4-4438-8ec2-8cba18711cbf","cardType":"cloze","points":null,"front":"A deed of partnership can record how much [ ] each partner has invested.","back":"A deed of partnership can record how much capital each partner has invested.","mcqOptions":[{"text":"capital","correct":true,"explanation":"Capital is money invested by the owners in a business. A deed of partnership can record how much capital each partner has contributed."},{"text":"turnover","correct":false,"explanation":"Turnover is the business's total sales revenue over a period, not money invested by an individual partner. The correct term is capital."},{"text":"profit","correct":false,"explanation":"Profit is what remains after costs are deducted from revenue, so it is not the amount invested to start or fund the business. The correct term is capital."},{"text":"wages","correct":false,"explanation":"Wages are payments made to workers for their labour, not the money an owner invests in a partnership. The correct term for invested money is capital."}]},{"id":"4a63d7e8-9a2e-4efa-b98f-e6650efc320f","cardType":"cloze","points":null,"front":"A deed of partnership can set out partners' [ ].","back":"A deed of partnership can set out partners' voting rights.","mcqOptions":[{"text":"voting rights","correct":true,"explanation":"Voting rights determine how partners participate in decisions, including how much influence each partner has. These rights can be recorded in a deed of partnership."},{"text":"customer complaints","correct":false,"explanation":"Customer complaints concern service problems rather than partners' decision-making powers. The deed can set out partners' voting rights, which establish their influence over decisions."},{"text":"product prices","correct":false,"explanation":"Product prices concern the business's selling decisions, not the partners' formal powers within the partnership. The relevant term is voting rights."},{"text":"employee uniforms","correct":false,"explanation":"Employee uniforms are an operational detail and do not define how partners make decisions. A deed can set out partners' voting rights."}]},{"id":"35ee8bc7-7cdb-4c08-9e39-8369ba680380","cardType":"cloze","points":null,"front":"Without a deed of partnership, a disagreement over money has [ ].","back":"Without a deed of partnership, a disagreement over money has nothing to settle it.","mcqOptions":[{"text":"nothing to settle it","correct":true,"explanation":"Without a written deed, there is no agreed record explaining how the money should be divided or handled. This makes a disagreement difficult to resolve between the partners."},{"text":"an automatic equal split","correct":false,"explanation":"An automatic equal split does not settle every possible money dispute and may not reflect what partners expected. The intended answer is nothing to settle it without a deed."},{"text":"a guaranteed court judgment","correct":false,"explanation":"A court judgment is not automatically provided whenever partners disagree about money, and legal action may be costly and slow. Without a deed, there is nothing to settle it."},{"text":"a manager's final decision","correct":false,"explanation":"A partnership does not automatically have a manager with absolute authority over disputes between partners. Without a deed recording the agreement, there is nothing to settle it."}]},{"id":"ed5f7c75-cac5-4802-a2b3-529ecf1a4eb8","cardType":"cloze","points":null,"front":"When deciding whether to take on a partner, first consider whether they bring [ ].","back":"When deciding whether to take on a partner, first consider whether they bring capital.","mcqOptions":[{"text":"capital","correct":true,"explanation":"Capital gives the partnership additional finance for starting, operating or expanding the business. It is therefore an important first consideration when assessing a potential partner."},{"text":"a guaranteed profit","correct":false,"explanation":"A potential partner cannot guarantee that the business will make a profit, so this is not a realistic contribution to assess. The relevant contribution is capital."},{"text":"a higher rent","correct":false,"explanation":"Higher rent increases the partnership's costs rather than providing a useful contribution from the new partner. The key financial contribution to consider is capital."},{"text":"a larger tax bill","correct":false,"explanation":"A larger tax bill is a cost or liability, not a resource brought into the partnership. The relevant contribution to consider first is whether the partner brings capital."}]},{"id":"9991744d-cb19-4660-8a45-526aebc5fe4e","cardType":"cloze","points":null,"front":"A partner who brings no money may be a weaker choice because they take a share of profit for work a paid [ ] could have done.","back":"A partner who brings no money may be a weaker choice because they take a share of profit for work a paid employee could have done.","mcqOptions":[{"text":"employee","correct":true,"explanation":"An employee can be paid to complete the required work without receiving a share of the business's profit. A partner who contributes no money still takes a profit share, making an employee a possible alternative."},{"text":"customer","correct":false,"explanation":"A customer buys from the business and is not normally hired to carry out its work. The correct term is employee, who could be paid for the work without receiving a profit share."},{"text":"supplier","correct":false,"explanation":"A supplier provides goods or services to the business rather than usually doing the partner's role as a worker. The correct alternative is a paid employee."},{"text":"competitor","correct":false,"explanation":"A competitor operates another business and is not a worker the partnership would pay to complete its tasks. The correct term is employee, who receives pay rather than a profit share."}]}]}],"examCountdown":{"examDate":"2027-05-12","paperLabel":"Paper 1"},"heading":"1.2.1 Unincorporated businesses","title":"1.2.1 Unincorporated businesses Flashcards","topbar":{"backHref":"/gcse/business/aqa/flashcards"},"topicSidebar":"$L37"}]}],"topicId":"dba536bb-44e4-443d-932d-1bc2b90d29f6","walled":"$L38"}],"$L39","$L3a"]