BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There are two or more owners, the partners share in the costs, decisions, and responsibility.
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Money is easily raised by shareholders although most decisions are made by the board of directors.
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Run like a partnership and a corporation limited the responsibility of the partners
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One owner who makes all of the business decisions
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Detailed explanation-1: -Sole proprietorships are inexpensive and easy to form. As long as you’re the owner and in charge of operations, there’s no need to formally register your business or notify federal or state offices.
Detailed explanation-2: -Minimal paperwork and low set-up costs are two major benefits of having a sole proprietorship. In addition, there is the ease of maintaining it. In fact, according to the SBA, it’s the simplest and least expensive business type you can establish.
Detailed explanation-3: -Advantages of Sole Proprietorship: Confidentiality of information-Being only the owner of the business, it allows him/her to keep all the business information to be private and confidential. Direct incentive-A sole proprietor directly has the right to have all the profit or benefits of a company.
Detailed explanation-4: -A sole proprietorship, as its name states, has only one owner. The sole proprietorship is merely an extension of its owner: a sole proprietor owns his own business, and no one else owns any part of it. As the only owner, the sole proprietor has the right to make all the management decisions of the business.
Detailed explanation-5: -Answer: (c) partnership. Which of the following is an advantage of a sole proprietorship? (a) ease of starting a business.