Which of the following is not an advantage of a sole proprietorship?
A. It is easy to form and dissolve.
B. It has unlimited liability.
C. Profits are taxed as personal income.
D. There owner has the flexibility of being his or her own boss.
E. The owner keeps all profits.
Answer: B
You might also like to view...
The LIFO method agrees with the actual physical goods flow in most businesses
Indicate whether the statement is true or false
Explain the marketing decisions faced by wholesalers
What will be an ideal response?
To be ISO certified, ______.
a. a company must be audited by an external governing group b. a company must be checked out by a government agency c. a company must submit a report from an accounting firm that conducts audits d. a company must be audited by its internal audit department
According to Modigliani and Miller, a firm's value is determined solely by the earning power and risk of its assets and that the manner in which it splits its earnings stream between dividends and internally retained funds does not affect this value
Indicate whether the statement is true or false