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WorksheetsSole proprietor
Total questions: 10
Worksheet time: 6mins
What is sole proprietorship
Business owned by single company
Business owned by several companies
Business owned by one person
Business owned by president
What is pros of sole proprietorship
Hobo tells you what to do
Split profit
Decision dont need approval
Hard to get out the business
What is cons of sole proprietorship
Need to handle everything on our own
Easy to raise capital money
Business can continue after owner die
Decision dont need approval
Who can start sole proprietorship
Your cat
Your boss
Anyone
Need goverment approval
What is one example of sole proprietorship
Landscapper
Mcdonalds
Bubblebee
Bata
Characteristic sole proprietorship
One man ownership
Fewer formalities
More than one owner
Simplest business structure
Give one example of sole proprietorship
(a)
"ITS CONTINUITY IS UNCERTAIN FOR
EXAMPLE THE OWNER'S DEATH"
THIS REFERS TO THE
DISADVANTAGES OF
limited capital
Unlimited liability
lack of continuity
“no separate legal existence between business entity and owner”this statement refers to the
Characteristic
Advantages
Disadvantages
What is the disadvantage of sole proprietorship
(a)
