A Sole Proprietorship Is

question 230

Multiple Choice

A sole proprietorship is

• A)the easiest type of business to set up.
• B)the most difficult type of business to set up.
• C)the most expensive type of business to set up.
• D)the least profitable type of business to set up.

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Definitions:

Depreciable Cost

The total amount that can be depreciated over an asset's useful life, typically the cost of the asset minus its salvage value.

Obsolescence

The process of becoming outdated or no longer used, often due to technological advancements or changes in preferences.

Loss

A financial condition indicating that expenses have exceeded revenues over a certain period, leading to negative profit.

Disposal

Disposal involves getting rid of something, typically waste or assets no longer needed or useful for the business.