Asked by

Tameka Cheek
on Nov 11, 2024

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Which of the following is a major advantage of a sole proprietorship?

A) Separation of ownership and control
B) Limited liability for business debt
C) Transferability of ownership and firm continuity over time
D) Ease of start-up
E) Ease of obtaining financing

Ownership and Control

The legal rights to possess, use, and manage assets or property, and the ability to direct the operations and activities of an entity or resource.

Limited Liability

A legal structure that limits the financial liability of investors or owners to the amount they have invested in a company, protecting personal assets.

Transferability of Ownership

The capability to legally transfer the title or ownership of an asset or property from one entity to another.

  • Gain insight into the core ideas and merits of sole proprietorships.
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Rafael LozanoNov 12, 2024
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