Social Studies, 11.01.2020 11:31, Emilybaez15

What are the primary advantages to choosing a sole proprietorship? select all that apply.
it can be inexpensive and easy to set up.
decisions are in the hands of many people.
the owner is not liable for the company’s debts.
many types of business taxes are not required.
owners can keep profits for themselves.

Answers: 1

Show answers

Answers

answered: mhzperfect

The advantages of chosing the sole proprietorship model are the following:

It can be inexpensive and easy to set up.Many types of business taxes are not required. Owners can keep profits for themselves.

The sole propietorship is a format of enterprise ownership through which a single person or entrepeneur owns and runs the firm. This person earns all the profits generated and has unlimited liability for losses or debts. In general, this figure of the entrepeneur tries to be fostered. This is why many countries tend to reduce the initial costs required to set such a firm, and why these enterprises do not have to pay certain taxes as for example, there is not a corresponding tax for sole propietors similar to the societies tax.

This person is the only one making the decisions and the only one accountable for the finances of the enterprise, for example concerning debts. Therefore the owner is liable for those debts.

answered: MaxxL

The sole proprietorship is the individual proprietorship, in which a single person owns and runs the enterprise. The sole proprietorship does not involve any legal distinction between the owner and business entity.

The advantages of the sole proprietorship are:

It can be inexpensive and easy to set up. Many types of business taxes are not required. Owners can keep profits for themselves.

The sole proprietorship is an enterprise owned by a single person or an entrepreneur.

The owner earns all the profits and has unlimited liability for the debts. The reason for the reduction in the initial cost to set such a firm is that the entrepreneur tries to be fostered.

These enterprises do have not to pay any taxes and there is not a corresponding tax for the sole proprietors like the society's tax.

Thus, one person is accountable for the decision-making and finance of the enterprise. The owner is liable for those debts.

To know more about sole proprietorships, refer to the following link:

link

answered: Guest

explanation:

answered: Guest

What u need with

Other questions on the subject: Social Studies

Social Studies, 21.06.2019 21:30, Elsalvador7310

You are serving on a jury. a plaintiff is suing the city for injuries sustained after falling down an uncovered manhole. in the trial, doctors testified that it will be 5 years before the plaintiff is able to return to work. the jury has already decided in favor of the plaintiff, and has decided to grant the plaintiff an award to cover the following items: a. recovery of 2 years of back-pay ($34,000 for two years ago, and $36,000 for last year, which ends today). assume that it is december 31 and that all salary is received at year end. this recovery should include the time value of money. b. the present value of 5 years of future salary. assume that the plaintiff's salary would increase at a rate of 3 percent per year. c. $100,000 for pain and suffering. d. $20,000 for court costs. assume an interest rate of 7 percent. what should be the size of the settlement?

Answers: 3

continue

Social Studies, 22.06.2019 11:30, AM28

Why do you think that wilson 14 point was not put into practice

Answers: 2

continue

Social Studies, 22.06.2019 20:20, yarielisr18

How does the establishment clause limit government?

Answers: 1

continue

Social Studies, 22.06.2019 21:00, Demondevilg

Where is sub-saharan africa located?