BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If someone has the idea to make a profit he or she will be able to
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Complicated for beginners
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Do not require co-workers
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Do not have to pay separate business income taxes.
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Detailed explanation-1: -Answer and Explanation: Unlimited liability (option a) is not an advantage of a proprietorship. Unlimited liability is an undesirable feature for a proprietorship because it means that the owner of the enterprise is personally responsible for all debts.
Detailed explanation-2: -Sole proprietorships are easy to establish and dismantle due to a lack of government involvement, making them popular with small business owners and contractors. Most small businesses start as sole proprietorships and end up transitioning to a limited liability entity or corporation as the company grows.
Detailed explanation-3: -Which of the following is not a advantage of sole proprietorship? anything left out of income after expenses have been deducted. Both the sole proprietorship and the partnership have unlimited liability.
Detailed explanation-4: -Answer: (c) partnership. Which of the following is an advantage of a sole proprietorship? (a) ease of starting a business.