What Is a Sole Proprietorship? Explain the Advantages and the Disadvantages

question 43

Essay

What is a sole proprietorship? Explain the advantages and the disadvantages of a sole proprietorship.

Assess the factors influencing the choice of a cost driver in cost estimation.

Recognize the different classifications of costs in activity-based costing.

Evaluate the implications of volume changes on different types of costs.

Identify the assumptions and criteria necessary for regression analysis in cost estimation.

---

Definitions:

Canadian State

The political entity consisting of the federal government and provinces of Canada, responsible for governing the country according to its laws and regulations.

Policies and Laws

Established rules and guidelines, formally enforced through legal and governmental institutions, that govern behavior within a society.

Class Conflict

The tension or antagonism that exists in society due to competing socioeconomic interests and desires between people of different classes.

Resistance to Democracy

Opposition or reluctance towards adopting democratic principles, systems, or practices within a society or government.