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In order to increase the capital owned, a sole trader may

Commerce
JAMB 2013

In order to increase the capital owned, a sole trader may

  • A. seek for bank loan
  • B. issue debentures
  • C. acquire extra shop fittings on credit
  • D. draw less of his profit for personal use
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Correct Answer: Option D
Explanation

A sole trader can raise capital for the business by ploughing back profit. That is, re-investing the profits realised from the business instead of using it for personal needs

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