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7 building blocks · blurt the topic, then mark it block by block against the answer key.
Topic preview
Preview the first part of the topic. Unlock SQE1 FLK1 Playbook to answer prompts, get marked against the answer key, repair gaps, and carry the topic into review.
6 of 7 shown
Which of a sole trader, general partnership, LLP and private limited company have separate legal personality, and why is that different from having limited liability?
If a business fails with unpaid debts, who is personally exposed under each of the four business mediums — sole trader, general partnership, LLP and private limited company — and who is protected by limited liability?
How are trading profits taxed in each of the four business mediums — sole trader, general partnership, LLP and private limited company — and where does tax not simply follow legal personality?
How do owner control and management flexibility differ across a sole trader, general partnership, LLP and private limited company, and which usually operate most informally?
Of the four business mediums — sole trader, general partnership, LLP and private limited company — which creates the heaviest public filing burden, and what does that mean for privacy compared with the others?
A cautious founder wants limited liability, a professional image and manageable admin. Which of the four business mediums — sole trader, general partnership, LLP or private limited company — would you recommend, and what trade-off would you warn about?
The full topic unlocks with SQE1 FLK1 Playbook, including the remaining prompts and answer-key marking.
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