Which of the Following Is a Disadvantage of a Sole

question 144

Multiple Choice

Which of the following is a disadvantage of a sole proprietorship?

• A) It is hard to attract and retain talented employees.
• B) It is expensive and difficult to set up this type of business.
• C) It is heavily regulated by most provincial and local governments.
• D) There is limited liability.

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Definitions:

Fundamental Attribution Error

The tendency to overestimate the influence of internal factors in determining behavior while underestimating situational factors.

Groupthink

A psychological phenomenon that occurs within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Self-Serving Bias

The common tendency to attribute one's successes to personal characteristics and failures to external factors.

Generational Identity

The collective personality, attitudes, and habits attributed to members of a specific generation, often shaped by significant social and cultural events during their formative years.