1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
blagie [28]
3 years ago
12

Describe the advantage and the disadvantage shared by both sole proprietorships and partnerships.

History
1 answer:
Rufina [12.5K]3 years ago
5 0

Answer:

The advantages shared by both sole proprietorship and partnerships are;

1. They are both easy  to start are readily affordable to establish

2. Both, individual income sole proprietorship and split income partnership can benefit from tax savings

3. The business  affairs of the operators of both models  are private

4. Both enjoy limited external regulation

The disadvantages shared by both business models are;

1. The sole proprietorship and the partners in a partnerships are liable (unlimited liability) for the debts of the business

2. The business may end with the death or departure of a partner in a partnership or the owner in a sole proprietorship

3. Difficult to change a partner in a partnership or the sole proprietor in a sole proprietorship

Explanation:

A sole proprietorship is an enterprise model whereby the enterprise is entirely run and owned by one person such that legally there is no distinction between the business owner and the business

A partnership is a business arrangement where two or more people (partners) come together to manage the operations of the business such that they share the profits and liabilities of the business.

Partnership businesses are sometimes formed by professionals such as lawyers and doctors.

You might be interested in
Is this type of government one person has control over our government branches: autocracy aristocracy democracy
igomit [66]

The answer is Autocracy since it has 1 person who has absolute power

8 0
3 years ago
Read 2 more answers
In the first and second centuries the role of ____in the Roman economy diminished a) small farms b) commerce c) the latifundia d
denpristay [2]
It would be c, the latifundia
8 0
3 years ago
Transportation revolution/increase in immigration/the rise of factories. The factors listed led to which of the following?
tresset_1 [31]

Answer:

Bjjajajajajajahahaba

6 0
3 years ago
The edge of a continent just below the surface of the ocean is called the?
Inessa [10]

Answer:

The edge of a continent just below the surface of the ocean is called the Continental Shelf.

Explanation:

3 0
3 years ago
In ancient Egyptian society, which duties did the upper class perform?
andreyandreev [35.5K]

Answer:

They performed religious and governmental duties

Explanation:

Sorry i needed  points so i copied

5 0
3 years ago
Read 2 more answers
Other questions:
  • What two organizations were created because of world war two
    6·1 answer
  • Thr united states and other western nations responded to the berlin blockade by what​
    6·1 answer
  • What is the best definition of a "Feminist"
    14·2 answers
  • Cuales son las posiciones que los puertorriqueños pueden elegir cada cuatro años en las elecciones generales?​
    8·1 answer
  • . Describe the impact of the cotton gin
    15·2 answers
  • Select the examples of progress during the Renaissance that encouraged evolution of communication amongst societies.
    9·2 answers
  • How did the end of the Vietnam War affect American citizens??
    15·2 answers
  • Which of the following was an advantage held by the patriots during the revolutionary war?
    5·1 answer
  • Religious freedom was a motivating factor for some colonists who immigrated to the colonies of____.
    5·1 answer
  • How long do most governors serve? What two states have two year terms for their governor?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!