<u>The advantages of chosing the sole proprietorship model are the following:</u>
It can be inexpensive and easy to set up.
Many types of business taxes are not required.
Owners can keep profits for themselves.
The sole propietorship is a format of enterprise ownership through which a single person or entrepeneur owns and runs the firm. This person earns all the profits generated and has unlimited liability for losses or debts. In general, this figure of the entrepeneur tries to be fostered. This is why many countries tend to reduce the initial costs required to set such a firm, and why these enterprises do not have to pay certain taxes as for example, there is not a corresponding tax for sole propietors similar to the societies tax.
This person is <u>the only one making the decisions</u> and the only one accountable for the finances of the enterprise, for example concerning debts. Therefore the owner <u>is liable</u> for those debts.
Previous winners include Pope Francis and Pope John Paul II, groundbreaking scientists and groups or archetypes such as "the protester" and "Ebola fighters." But the award isn't always an honor: Adolf Hitler was Person of the Year in 1938, and Joseph Stalin was given the title twice.
it is the smallest particles of any material. It means Elements are chemically the simplest substances and hence cannot be broken down using chemical reactions. Elements can only be changed into other elements using nuclear methods.
