If an individual forms a sole proprietorship, which nontax factor will be of greatest benefit to the sole proprietor?
A) Legal flexibility in defining rights and responsibilities of owners.
B) Facilitates initial public offerings.
C) Minimal time and cost to organize.
D) Liability protection.

Question

Quizplus · Accepted Answer

The nontax factor of minimal time and cost to organize is of greatest benefit to the sole proprietor. This is because forming a sole proprietorship is a simple process that does not require extensive legal or financial paperwork, which allows for easy and quick formation of the business.

If an Individual Forms a Sole Proprietorship, Which Nontax Factor