Advantages of a Sole Proprietorship
Which of the following is an advantage of a sole proprietorship?
2) The owner of a sole proprietorship has complete control over the business.
3) The sole proprietorship's existence does not depend entirely upon the sole proprietor.
4) Owners of sole proprietorships can raise a lot of cash quickly for expansion purposes.
Final answer:
The key advantage of a sole proprietorship is that the owner maintains complete control over the business, making all decisions independently.
Explanation:
An advantage of a sole proprietorship is that the owner has complete control over the business.
This means that, as the sole owner, the individual can make all the business decisions without needing the input or consent of others.
It's also worth noting that while sole proprietorships offer certain advantages, there are significant disadvantages such as personal liability and the challenge of raising capital.
Therefore, the correct answer to the question is: 2) The owner of a sole proprietorship has complete control over the business.
The advantage of a sole proprietorship is that the owner has complete control over the business.
They can make all the decisions without having to consult with others.
They also control all the income generated by the business.
The key advantage of a sole proprietorship is that the owner maintains complete control over the business, making all decisions independently.
Which of the following is an advantage of a sole proprietorship? The key advantage of a sole proprietorship is that the owner maintains complete control over the business, making all decisions independently.