0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What are the sources of capital a sole proprietorship?
owners contribution
Who controls a sole proprietorship?
The owner controls a sole proprietorship. By its definition, a sole proprietorship is ran by a single individual who wishes to operate alone or who has only a small business.
Is Wendy's a sole proprietorship?
no
What are the legal requirements of a sole proprietorship?
The only legal requirement in formation of sole proprietorship is that business must not be illegal.
Explain the strength of a sole proprietorship?
A sole proprietorship is a business started and owned by an individual. Little or no legal paperwork is required to begin.
What is a feature of a sole proprietorship?
profits paid out as dividends
Who gets to keep a business's profits in a sole proprietorship?
your mother
What the owner has unlimited liability but collects all the profits from a business?
sole proprietorship
Is a disadvantage of partnership compared to sole proprietorship?
You share decision making and profits in a partnership.
A Sole proprietorship's income is taxed as the firm's profits and as the owner's personal incometrue or false?
TRUE
What are some advantages of the sole proprietorship type of business?
owner of a sole proprietorship gets to keep all profits derived from the operation. The owner may even share any portion of the profits (and losses) with another person or persons. The owner has the authority to make all the decisions
Principles of sole proprietorship?
what is the prinicples of sole proprietorship
What are the Concepts of sole proprietorship?
Essentially, there exist two characteristics of a sole proprietorship: 1. Liability of the business resides with the owner, the proprietor, and 2. Taxes on the profits/losses of the business are at the same rate as an individual.
What are the characteristic of sole proprietorship?
sole proprietorship is a business form that is manages by only one person. it has unlimited liability and dont need to comply with some government requirements unlike partnership and corporation. owner share profits with no one.
Can you turn your partnership into a sole proprietorship?
Partnerships can not be converted to Sole proprietorship.
What does the owner of a sole proprietorship have?
The owner of a sole proprietorship has unlimited liability.
What are the sources of capital a sole proprietorship?
owners contribution
