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What type of business organization has the advantage of specialization but the disadvantage of unlimited liability?
A sole proprietorship has the advantage of specialization, as the owner can focus on their specific skills and interests to drive the business. However, it also carries the disadvantage of unlimited liability, meaning the owner is personally responsible for all debts and obligations of the business, which can put their personal assets at risk. This structure is often favored for its simplicity and direct control, but the potential financial risk is a significant drawback.
What else can I help you with?
The form of business organization that has the advantage of limited liability is a?
corporation
Unlimited personal liability is a drawback with corporate form of business organization?
Limited personal liability is the advantage of incorporating your business.
What is a major advantage of a corporation?
A major advantage of a corporation is the limited liability of the owners. When a stockholder dies, the corporation is not dissolved.
How do you set up a limited liability company in Missouri?
A Missouri limited liability company is formed by filing Articles of Organization with the Missouri Secretary of State.
What is the least expensive form of business organization?
Limited liability company which has single director
The form of business organization that has the advantage of limited liability is a?
corporation
Unlimited personal liability is a drawback with corporate form of business organization?
Limited personal liability is the advantage of incorporating your business.
A corporation has an advantage over a proprietorship because corporate organization?
limits the liability of each investor
What would be an advantage and disadvantage of incorporation limited liabilibyt continuous existence lack of mutual agency or double taxation?
limited liability because although its an advantage of incorporation, it can also be a disadvantage. It restricts the ability of a small corporation to borrow money.
Corporation advantages and disadvantages?
An advantage to having a corporation is limited liability. A disadvantage to having a corporation is the fact that income is taxed twice.
What are the advantage and disadvantage of a partnership?
*availability of large resousces *better decisions *unlimited liability *lack of harmony *availability of large resousces *better decisions *unlimited liability *lack of harmony
What are synonyms of disadvantage?
Defect, burden, deficiency, and liability. I got these from http://thesaurus.com/browse/disadvantage
Advantage and disadvantage of sole proprietorship?
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.
Which of these is a major advantage of a corporation?
Limited liability is a major advantage of a corporation.
What is liability of foreignness?
Liability of foreignness is the inherent disadvantage that foreign firms experience in host countries because of their non native status.
Is There a problem of unlimited liability in this organization.?
Proprietorship. (:
There is a problem of unlimited liability in organization?
Proprietorship. (:
