All of the Following Are Advantages of Sole Proprietorship EXCEPT

question 49

Multiple Choice

All of the following are advantages of sole proprietorship EXCEPT ________.

• A) single ownership
• B) no separate tax form
• C) ease of formation
• D) limited liability
• E) control and flexibility

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Definitions:

Directors

Members of a company's board of directors, who are elected to oversee and guide the management and policies of the corporation, representing the interests of the shareholders.

Consolidation

The process of combining multiple businesses, assets, or financial statements into one unified entity.

Debts

Debts are amounts of money that are owed or due to individuals, corporations, or governments.

Dodd-Frank Act

A comprehensive piece of financial reform legislation passed in 2010 in the United States, aimed at reducing risks in the financial system.