Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. what are the advantages and disadvantages of the s

what are the advantages and disadvantages of the sole proprietorship form of organization? Provide specific examples.

80.2K

Verified Solution

Question

Accounting

what are the advantages and disadvantages of the soleproprietorship form of organization?
Provide specific examples.

Answer & Explanation Solved by verified expert
4.3 Ratings (796 Votes)
A sole proprietorship is a business that can be owned and controlled by an individual a company or a limited liability partnership There are no partners in the business A sole proprietorship can have multiple people operating the business but it must have one sole owner ADVANTAGES OF SOLE PROPRIETORSHIP Easy to Form Proprietary concerns can be formed easily and quickly Very few legal formalities need to be fulfilled A person becomes a sole proprietor simply by running a business Full Control In sole proprietorship    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

José Menendez is an elderly patient of Dr. Juárez, a board-certified urologist. José has a history...

Psychology
1.2K views

Anna Freud a child psychoanalyst, is widely credited with expanding upon psychoanalytic theory by the identifying...

Psychology
1.2K views

What are Kierkegaard's three stages of existence? Explain

Advance Math
1.2K views

(a) Find all positive values of ? for which the following boundary value problem has a...

Physics
1.2K views

24 Conduction N Convection V or Radiation R Cooks pasta in a pot of hot...

Basic Math
1.2K views

Simplify: (2xy)416x8y28x6y78x8y216x6y7

Accounting
1.2K views

Halifax Manufacturing allows its customers to return merchandise...

Accounting
1.2K views

How has Congress used depreciation to target small business activities for special treatment?

Accounting
1.2K views

Perpetual inventory using LIFO Beginning inventory, purchases, and sales for Item 88-Hx are as...

Accounting
1.2K views

Green Foods Manufacturing Company (Green) provided the following details about operations in the year 2022....

Accounting
1.2K views

4. In Jan 1,2024 XYZ issued a 5-Year $1M bond at 6% coupon rate with...

Accounting
1.2K views

Jumbo Enterprises plans to borrow R1 000 000 for one year. The stated interest rate...