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Questions and Answers
What is the main characteristic of a sole proprietorship?
What is the main characteristic of a sole proprietorship?
- Shared control
- Public ownership
- Single ownership (correct)
- Limited liability
What type of risk bearing is associated with sole proprietorship?
What type of risk bearing is associated with sole proprietorship?
- Individual risk bearing (correct)
- Shared risk bearing
- No risk bearing
- Limited risk bearing
What is a key disadvantage of a sole proprietorship?
What is a key disadvantage of a sole proprietorship?
- Limited liability
- Large size
- Lack of business continuity (correct)
- Separate legal entity
Which factor contributes to the ease of starting and dissolving a sole proprietorship?
Which factor contributes to the ease of starting and dissolving a sole proprietorship?
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What type of entity is a sole proprietorship in terms of legal status?
What type of entity is a sole proprietorship in terms of legal status?
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