Correct Answer is: d. all of the above.
Which is advantageous for a sole proprietor?
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.
Which of the following is an advantage of a sole proprietorship is of starting a business being your own boss pride of ownership all of the above?
Answer: (c) partnership. Which of the following is an advantage of a sole proprietorship? (a) ease of starting a business.
Which of these is not an advantage of sole proprietorship?
Unlimited liability
The most significant disadvantage of the sole proprietorship is no protection from liability. Every business liability is a personal liability since there is no legal entity concept.
Which of the following is not one of the advantages of a sole proprietorship?
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.
What is one advantage of a sole proprietorship Mcq?
It does not need to be registered or incorporated. Therefore, it is not considered as a legal entity. Sole proprietorship can be operated under the name of the owner or some fictitious name. It is one of the most common forms of business structure that is found in India.
Which of the following is an advantage of sole partnership?
ease of starting a business.
What is one advantage of a sole proprietorship Quizizz?
Advantages of this business type are that the owner is their own boss and gets to keep all the profits.
What are 5 characteristics of a sole proprietorship?
Despite limitations of size and resources, many people continue to prefer sole proprietorship over other forms of organisation.
The five characteristics of sole proprietorship are as follows:
- Sole owner of the business.
- Unlimited liability.
- No legal entity.
- Sole decision maker.
- Can wrap up the business anytime.
What is sole proprietorship and advantages and disadvantages?
A Sole proprietorship is a business, owned, controlled and managed by a single individual. A Sole Proprietor reaps the financial rewards and is responsible for all risks and liabilities while conducting the business. It is suitable for individually managed occupations like salons or small retail shops.
What are advantages and disadvantages of sole trader?
A sole trader is liable for the organisation’s debt. This means that personal assets such as a car or house are at risk of being sold to pay off business debts.
Disadvantages.
| Advantages | Disadvantages |
|---|---|
| Easy to set up | Can be difficult to raise finance |
| Sole trader retains all profits for themself | Unlimited liability |
What are examples of sole proprietorship?
Examples of sole proprietors include small businesses such as, a local grocery store, a local clothes store, an artist, freelance writer, IT consultant, freelance graphic designer, etc.
Which of the following statement is correct for a sole proprietorship?
Sole Proprietorship
The liability in this firm is unlimited to the owner and not shared with anyone else.
What’s the meaning of sole proprietorship?
Definition. A Sole proprietorship is an enterprise owned exclusively by one natural person and in which there is no legal distinction between the owner and the business entity.
What is one advantage of a sole proprietorship co1 *?
Sole Proprietorship Gives You Complete Control
A sole proprietorship is an unincorporated business that’s owned and operated by just one person. And it’s not a legal entity that is formed with the state. As the owner, you make all the decisions and call all the shots.
Which of the following is an advantage of a sole proprietorship class 11?
*ease of starting a business. being your own boss. pride of ownership. all of the above.
What is one advantage of a sole proprietorship co1 * 2 points?
You have complete control as the owner
This freedom means sole proprietorships are a popular first-step in building a business, as the structure gives owners the flexibility to experiment before committing to the regulations involved in operating a Limited Liability Company (LLC) or a corporation.
What is an advantage of a partnership?
Advantages of a partnership include that: two heads (or more) are better than one. your business is easy to establish and start-up costs are low. more capital is available for the business. you’ll have greater borrowing capacity.
Which of the following is an advantage of a sole proprietorship unlimited life?
The correct option is b. Ownership and control resting in one person. The major advantage of a sole proprietorship is that person who started the business gets the remain the only owner of the business.
Which of the following is an advantage of a corporation?
Advantages of a corporation include personal liability protection, business security and continuity, and easier access to capital. Disadvantages of a corporation include it being time-consuming and subject to double taxation, as well as having rigid formalities and protocols to follow.
Which answer is not an advantage of a corporation?
Answer and Explanation: The correct option is (d). Limited taxation is not an advantage of forming a corporation because they are subjected to double taxation which is in itself a disadvantage of forming a corporation.