Ownership question

What are the advantages of sole proprietorship?

• Easy to start-up and closure

• Retention of all profit

• No special taxes

• Availability of capital and credit

• Combined skills and knowledge

List 4 disadvantages of sole proprietorship

List 4 advantages of sole proprietorship

Which are the advantages of partnership

• Availability of capital and credits
• Ease of start-up
• No special tax
• Combined of business knowledge and skills
• Retention of profit

What are the disadvantages of partnership

• Frozen investment
• Management disagreement
• Lack of continuity
• Unlimited liability

• Combined business skills and knowledge

Which of the following are the advantages of partnership

• Double taxes

• Unlimited liability

• Frozen investment

• Combined business skills and knowledge

• All

What is the definition of corporation?

What are the advantages of the corporation.

• Limited liability
• Availability of capital and credit

• Ease of transferring ownership
• Specialized management
• perpetual life

What are the disadvantages of corporation.

• No special tax

• Difficulty and expenses of formation
• Conflict within the organization
• Lack of secrecy