Advantages of operating as a sole proprietor are:
A)total control by the owner over all decisions.
B)low start-up costs.
C)limited liability.
D)Both A and B.

Question

Quizplus · Accepted Answer

The advantages of operating as a sole proprietor are total control by the owner over all decisions and low start-up costs. As the sole proprietor is the only owner of the business, he or she can make all the decisions without the need to consult any other owners or shareholders. This allows the owner to take quick actions and make changes whenever necessary. Additionally, the sole proprietorship is the least expensive business entity to form and operate, as there are no legal requirements for filings or fees. However, the sole proprietorship does not provide limited liability protection, meaning that the owner is personally responsible for all business debts and obligations.

Advantages of Operating as a Sole Proprietor Are