The disadvantage of the sole proprietorship is
A) lack of flexibility in managing the business.
B) unlimited liability for debts of the business.
C) ease of formation.
D) none of these.
Correct Answer:
Verified
Q15: All states permit the formation of limited
Q16: A partner has the right to inspect
Q17: A partnership can be formed only by
Q18: Under certain circumstances, a joint venture may
Q19: If a sole proprietorship or partnership operates
Q21: A business owned and operated by one
Q22: If a partner decides to start a
Q23: For federal income tax purposes, partnerships
A) file
Q24: The written agreement that creates a partnership
Q25: One of the advantages of the partnership
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