Which of the following is an advantage of a sole proprietorship?
A)longer survival
B)no special taxes
C)unlimited liability
D)limited liability

Question

Quizplus · Accepted Answer

A sole proprietorship is not a separate legal entity from the owner, so there are no special taxes required. However, one disadvantage of a sole proprietorship is unlimited liability, meaning the owner is personally responsible for all the business's debts and obligations. The other options, longer survival and limited liability, are advantages of other business structures such as partnerships and corporations.

Which of the Following Is an Advantage of a Sole