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Terry
0450-18-O-N-13-4e
Chan
TOPIC QUESTION - PAPER 1
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Chan
May 17, 2026 at 7:36:21 AM
May/June 2022
Version 3
5.0 Financial Information and Decisions
5.1 Business Finance: Needs and Sources
YOUR ANSWER
There will be no cost involve should Bill use his own savings to start his business. Bill will also not be at risk of not being able to repay himself. However, it will reduce his savings a lot as he requires an amount of $6,000. As Bill is a sole trader with unlimited liability, using his own savings may be the best source of finance to reduce risk, as he does not have experience starting a business before this.
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