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Questions and Answers
Which form of business organization has only one owner and is not a separate legal entity?
Which form of business organization has only one owner and is not a separate legal entity?
- Corporation
- Partnership
- Entrepreneurship
- Sole Proprietorship (correct)
What is an advantage of a sole proprietorship?
What is an advantage of a sole proprietorship?
- Access to capital is unlimited
- The owner has limited liability
- The owner does not have to make management decisions
- The owner can easily transfer or sell the business (correct)
What is a disadvantage of a sole proprietorship?
What is a disadvantage of a sole proprietorship?
- The owner has limited liability
- The owner cannot transfer or sell the business
- Access to capital is limited (correct)
- The owner does not have to make management decisions
Who has the right to make all management decisions in a sole proprietorship?
Who has the right to make all management decisions in a sole proprietorship?
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What is the simplest form of business organization?
What is the simplest form of business organization?
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