Which of These Is an Advantage of Sole Proprietorship

question 86

Multiple Choice

Which of these is an advantage of sole proprietorship?

• A) Unique tax advantages
• B) Longer life because the business and owner are legally the same
• C) Owner's liability for the firm's debt limited to his or her investment in it
• D) Ease of raising large amounts of capital

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given time period.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price level.

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a given price level.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market equilibrium price.