A sole proprietor has unlimited personal liability for all business debts and obligations.
<h3>Who is a
sole proprietor?</h3>
A sole proprietor is the owner of a sole proprietorship. A sole proprietorship is a type of business that is owned by one person.
A sole proprietor and the business are regarded as a single person under the law. Thus, a sole proprietor has an unlimited liability. An unlimited liability means that in event of default, both the e property of the business and the sole proprietor can be seized.
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Answer:
Define Yourself- Finding your Business Niche. Identify your interests and passions. Identify problems you can solve. Research your competition. ...
Test your idea.
Defining your Business – Branding. Identify your specific audience. Establish business processes.
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Roy is a sole trader if he is not setting up a company instead starts a business.
<h3>What is a Business?</h3>
A business is the process of selling goods or services and earning revenue and profits through it, the business generates revenue which is deducted by the expenses incurred by the business. The business ensures the strategy to have a balance between these expenses and revenue so that there is some residue profit.
The sole trader is the business where the owner of the business is highly involved in day to day running of the business taking all the strategic decisions and responsible for all the debts of the business.
On the other hand a limited liability company is a business in which the owner of the company can be involved in day to day running of the operations but is not liable personally for the debts.
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The original investment amount was $ 68.56 then annual return on investment is 10 years was 7.20% interest.
What is investment?
Investment definition is assets invested in to build wealth and save money on bank, property and projects for specific time period of money.
PV is a present value, FV is a future value, i is interest, n is number of period
PV= FV/ (1 + i) n
PV= 1, 00,000 / (1+7.20%) 10
PV =68.5650014087
As a result, the original amount of investment is 68. 56
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Answer:
$347.81
Explanation:
Data provided in the question
Cents per mile to go to workshop = $0.535
And, the total miles traveled = 650.11 miles
So, the reimbursement expect would be
= Cents per mile to go to workshop × the total miles traveled
= $0.535 × 650.11 miles
= $347.81
In order to find out the reimbursement, we simply multiplied the cents per mile with the total miles traveled
