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Which of the following does not apply to a partnership business?

Select one:

An annual tax return must be prepared.

An ABN must be applied for.

Minimal costs to establish.

Pays taxation separately to that of the owners.

An advantage of operating as a sole trader is:

Select one:

the business is limited by the skill, time and investment of the owner.

the owner claims all the profits if the business is sold.

the business is not a separate legal entity.

the owner has unlimited liability.

Which of the following is not an accounting report?

Select one:

Statement of employee job satisfaction.

Statement of cash flows.

Balance sheet.

Income statement.