Asked by Ricky Moore on May 04, 2024
Verified
Which is an advantage of a sole proprietorship form of business?
A) There is limited personal risk.
B) The business can continue indefinitely.
C) The owner makes all the decisions.
D) The business is legally separate from the owner.
Personal Risk
refers to the uncertainties facing individuals that may threaten their health, safety, or financial security.
Indefinitely
An undefined period of time, with no set end date or limitation.
- Familiarize oneself with the characteristics, positive aspects, and negative aspects of diverse business models (sole proprietorship, partnership, corporation).
Verified Answer
RA
Rachel AustinMay 11, 2024
Final Answer :
C
Explanation :
Sole proprietorships allow the owner to have complete control over all the decisions made within the business, unlike in corporations or partnerships where decisions may be shared or subject to board approval.
Learning Objectives
- Familiarize oneself with the characteristics, positive aspects, and negative aspects of diverse business models (sole proprietorship, partnership, corporation).