--%>

Advantage and disadvantage of Sole proprietorship

Illustrate the advantage and disadvantage of Sole proprietorship?

E

Expert

Verified

Advantages: easy to set up; proprietor is his/her own boss; because profit is proprietor’s income, there is an incentive to operate the business efficiently.

Disadvantages: financial resources are limited and insufficient; the proprietor is responsible for all of management functions; the proprietor is subject to unlimited liability.

   Related Questions in Business Economics

  • Q : Specialization and trade according to

    Not between concepts explained in Adam Smith’s Wealth of Nations was the conception which net benefits occur from: (1) specialization and trade according to comparative advantage. (2) the division of labor in production processes. (3) reliance o

  • Q : Business Economics Hello, I would like

    Hello, I would like help with my assignment.

  • Q : Competition is the essential despot of

    Evaluate and explain the statements: “Competition is the essential despot of the market economy”.

  • Q : Economic bailout of Spain and Greece

    Question: Conduct an analysis on the following topic and prepare an Executive Summary-style report with supporting exhibits (Insightful Graphs, tables etc. from quality expert analyst references used to write the r

  • Q : Entrepreneurs and business are at the

    Explain the statements: Entrepreneurs and business are at the helm of the economy.

  • Q : What is the basic principle of

    What is the basic principle of comparative advantage?

  • Q : Importance of Economics Importance of

    Importance of Economics:Economics has become one of the major branches of social sciences. This is of enormous practical value in our day by day life. In pure sciences, we study the subject

  • Q : Define the terms Plant Define the

    Define the following terms?

  • Q : What do you mean by inflation What do

    What do you mean by inflation

  • Q : Fixed costs and Variable cost

    Questions: 1: Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

    Discover Q & A

    Leading Solution Library
    Avail More Than 1434917 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads
    No hassle, Instant Access
    Start Discovering

    18,76,764

    1929408
    Asked

    3,689

    Active Tutors

    1434917

    Questions
    Answered

    Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

    Submit Assignment

    ©TutorsGlobe All rights reserved 2022-2023.