BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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unlimited life
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wide access to capital
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income taxed at only one level
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pooled expertise
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Detailed explanation-1: -Sole proprietorships are easy to establish and get started. The owner retains complete control of the business. There are no corporate income tax payments.
Detailed explanation-2: -Sole proprietorship has the following advantage: Ease of starting a business, being your own boss, a pride of ownership, quick decision, direct incentive, confidentiality of information.
Detailed explanation-3: -5 advantages of sole proprietorship Less paperwork to get started. Easier processes and fewer requirements for business taxes. Fewer registration fees. More straightforward banking.
Detailed explanation-4: -Statement B: Easy to wind up is advantage of sole proprietorship form of business.
Detailed explanation-5: -Answer: (c) partnership. Which of the following is an advantage of a sole proprietorship? (a) ease of starting a business.