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Unlimited liability is the major disadvantage borne by the sole proprietorship. The owner is financially responsible for satisfying all business debts and/or losses suffered by the firm, even to the point of sacrificing his or her personal
Wiki User
∙ 13y ago
Advantage: Easy to set up and manage, full control over decision-making, simplified tax reporting as business income is reported on personal tax return. Disadvantage: Unlimited personal liability, limited access to capital, potential difficulty in attracting investors or partners.
Wiki User
∙ 12y agoIts depand upon sole propraiter
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Sole proprietorship advantages?
sole proprietorship has the following advantage.. 1. it enables the proprietor to decide on the matters with regards to the business. 2. own money could be use in the financing (though it is also part of its disadvantage)
Advantage and disadvantage of crab mentality?
ADVANTAGES
What is the advantage of sole source agreement?
A sole source agreement can provide a more streamlined procurement process by eliminating the need for competitive bidding, which can save time and resources. It can also foster a closer relationship with the supplier and potentially lead to better quality products or services.
What is the disadvantage and disadvantage of thresher machine?
One advantage of a thresher machine is that it can efficiently separate grain from the plant, saving time and labor during harvest. One disadvantage is that it can be expensive to purchase and maintain, making it less accessible to small-scale farmers.
Advantage and disadvantage of deadlock prevention?
Advantage: Deadlock prevention techniques eliminate the possibility of deadlock occurring in a system, ensuring system availability and preventing resource wastage. Disadvantage: Deadlock prevention techniques may lead to reduced system performance or resource utilization, as they often involve overhead in terms of additional checks or restrictions on resource allocation.
What is a disadvantage to a sole proprietorship?
lack of permanence
What is the main advantage of the sole proprietorship?
fastest to start.
What is the primary disadvantage of both sole proprietorship and a partnership that a corporation overcomes?
A
What is an advantage of a sole proprietorship?
it is the least regulated form of business organization
Is a disadvantage of partnership compared to sole proprietorship?
You share decision making and profits in a partnership.
What are the advantages and disadvantages of business entity concept?
The advantage of the sole proprietorship is that the owner of the business enjoys all the profits alone. The disadvantage is that the owner of the business bares all losses alone.
What of the following is a disadvantage of owning a sole proprietorship?
May have difficulty raising money for business operations
What is a major advantage of a sole proprietorship?
the owner is completely responsible for the business decisions
What advantage does a partnership have over a sole proprietorship?
The responsibility is shared.Burden of dept can be shared.
What are the disadvantages of a partnership over a sole proprietorship?
One of the main disadvantage of partnership over sole proprietorship is that you cannot excercise full power over the decisions and need to get other partners/partner onboard.
Principles of sole proprietorship?
what is the prinicples of sole proprietorship
What is an advantage the owners of a sole proprietorship enjoy over the owner of a corporation?
Sole proprietors get to make all of the business decisions themselves.
