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Katyanochek1 [597]
3 years ago
14

Which of the following is typically considered a disadvantage of sole proprietorships? Multiple Choice Income taxes are paid by

both the business and its owner. The business is considered a separate legal entity from its owner. Owner is personally liable for all debts of the business. Establishing the business usually requires legal assistance.
Business
1 answer:
matrenka [14]3 years ago
7 0

Answer:

The answer is: Owner is personally liable for all debts of the business.

Explanation:

Sole proprietorship is the oldest type of business, where a single person is the owner of a business.

Some of the advantages of sole proprietorship are:

  • the simplest and most flexible business structure.
  • owner has complete control and full decision making powers
  • easy to close down the business
  • profits are taxed at the owner´s tax rate

Some of the disadvantages of sole proprietorship are :

  • owner is personally liable for all debts of the business .- if the business goes bankrupt, usually the owner does also
  • death or illness of the owner will lead to the end of the business.
  • difficulties in raising capital from outside sources
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The accounts receivable credit column of the cash receipts journal is
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3 years ago
As a store manager, Leah has to play the role of negotiator, such as purchasing products at a fair price for her company. As she
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Jeff receives a paycheck of $2,100 twice per month. His monthly expenses include: $1,500 on rent, $400 on a car payment, $120 fo
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Answer:

$1,280

Explanation:

Given that,

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Car payment = $400

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