The primary disadvantages of sole proprietorship would be:
- Sole responsibility for the business
- They have the sole legal responsibility for the business
- They would have tax liability
- They would have issues with hiring workers
<h3>What is sole proprietorship?</h3>
This is the term that is used to refer to the individual that is in an entrepreneurship. This is a person that would have to have an enterprise that they run on their own that has no distinction between the owner of the business and business itself.
<h3>What is referred to as partnership?</h3>
This is the type of business that is run by two person or more. The partners in the business are the ones that would have equal claims to the business and they would share in all that concerns the business.
Read more on sole proprietorship here: brainly.com/question/4442710
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Money orders & pre-paid cards are the payment types that require you to pay upfront.
These types of payment method require that you pay upfront and get a check which is available in banks, retails stores etc.
A paper document used to make payment, similar to check is known as Money order. It is only issued when after buyer pay cash or other forms of guaranteed fund because they are prepaid.
The people that often used money orders do not have standard checking account, money orders is acceptable and can be converted to cash.
This method of payment is acceptable and is mostly used for paying debts, and it can be purchased from financial institution for a small fee. Some of the places where money orders are sold include post offices, grocery stores, and gas stations. This makes it easy for anyone to purchase.
Pre-paid cards are often called everyday cards. It is plastics and an alternative to carrying money around. When you purchase prepaid, you load it with money and top it up when balance goes down. They are not like credit card where you run debts on. It is also ideal for those who have no bank account because this type of payment method is not linked to a bank account.
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KEYWORDS:
- money orders
- pay upfront
- pre-paid cards
