Which of the following is an advantage of a sole proprietorship?
A) The owner has unlimited liability.
B) The business ceases to exist when the owner dies.
C) There is a limit to the amount one person can borrow.
D) Profits are taxed as individual income.
E) The owner enjoys lack of continuity.

Question

Quizplus · Accepted Answer

Profits in a sole proprietorship are taxed as individual income, which can result in lower tax rates compared to corporations.

Which of the Following Is an Advantage of a Sole