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Three advantages of owning a sole proprietorship Unification of ownership and management. ...

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Accounting

Three advantages of owning a sole proprietorship
Unification of ownership and management.
Does not need to follow the generally accepted accounting principles (GAAP).
Easy to organize.
Less government regulation.
No continuous life or transferability of ownership.
No income tax on net income.
The owner pays taxes on proprietorship's earnings since it is not a separate tax entity.
Unification of ownership and management.
Unlimited liability of owner.
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