Which of the following is not an advantage of a sole proprietorship?
A) It is easy to form and dissolve.
B) It has unlimited liability.
C) Profits are taxed as personal income.
D) There is no legal requirement to reveal vital facts about the business.
E) The owner keeps all profits.

Question

Quizplus · Accepted Answer

Unlimited liability means that the owner's personal assets are at risk if the business incurs debts or legal issues. This is not an advantage, as it exposes the owner to a significant amount of financial risk.

Which of the Following Is Not an Advantage of a Sole