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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

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14y ago

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Related Questions

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


Is a disadvantage of partnership compared to sole proprietorship?

You share decision making and profits in a partnership.


What is an advantage of a sole proprietorship?

it is the least regulated form of business organization


What of the following is a disadvantage of owning a sole proprietorship?

May have difficulty raising money for business operations


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 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


A disadvantage of organizing a business as a sole proprietorship?

If your business fails with debts you are personally liable. You only have yourself to blame.