BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Limited liability
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Unlimited financial power
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Dual taxation
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Quick decision making
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Detailed explanation-1: -Sole proprietor enjoys complete freedom in taking the decisions. It facilitates quick decision-making as there is no need to consult others.
Detailed explanation-2: -Some of the popular advantages of a sole proprietorship are. Quick decision making– A sole proprietor has the freedom to make any decision. Therefore, the decision would be prompt as they don’t have to take the permission of others.
Detailed explanation-3: -start-up costs are low. you have maximum privacy. establishing and operating your business is simple. it’s easy to change your legal structure later if circumstances change you can easily wind up your business.
Detailed explanation-4: -Answer: (c) partnership. Which of the following is an advantage of a sole proprietorship? (a) ease of starting a business.