Question

_______ do not have to consult with other individuals to make decisions for the business, which allows them to respond quickly to changes in the marketplace.

• A. Partners
• B. Customers
• C. Managers
• D. Sole traders

Answer 1

The correct option is D Sole traders

Sole traders do not have to consult with other individuals to make decisions for the business, which allows them to respond quickly to changes in the marketplace. Sole trader do not have to file a business tax return on a company's profits and losses.
Sole trader starts his/her business with an objective of earning independent livelihood using his/her skills. Sole traders operate mostly on a small-scale basis and their number is large. Sole trader can be referred as the single individual who takes all initiatives and run the business.