Unlimited liability and separate taxation of the business are advantages of a sole proprietorship.
The statement is False.
<h3>What is taxation ?</h3>
In practically every nation on the planet, governments impose taxes as mandatory levies on people or organizations. Although it can be used for other things as well, taxes are typically utilized to finance government spending.
Taxes are imposed on tangible property, including real estate and business dealings like stock sales or home purchases. Taxes exist in a variety of forms, including income, corporation, capital gains, property, inheritance, and sales taxes.
A fundamental method for nations to produce public revenues that enable them to support investments in human capital, infrastructure, and the provision of services for residents and enterprises is through the collection of taxes and levies.
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