Which of the Following Is an Advantage of Being a Sole

question 20

Multiple Choice

Which of the following is an advantage of being a sole trader?

• A)the owner has total autonomy over business decisions
• B)the owner has unlimited liability
• C)the business has limited life
• D)the business is not a separate legal entity

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Definitions:

Microeconomics

The branch of economics that focuses on the actions of individuals and industries, rather than the economy as a whole.

Descriptive Economics

A branch of economics that focuses on describing economic phenomena, without making judgments or recommendations.

Empirical Economics

The branch of economics that focuses on using data and statistical methods to analyze economic theories and test hypotheses.

Macroeconomics

The branch of economics that studies the behavior and performance of an economy as a whole, focusing on aggregate indicators such as GDP, unemployment rates, and inflation.