To many businesspeople,one of the major attractions of a sole proprietorship is:
A)The ability to obtain additional financial resources.
B)The protection of limited liability.
C)An unlimited lifespan.
D)The chance to be their own boss.

Question

Quizplus · Accepted Answer

Many businesspeople are drawn to the idea of being their own boss and having complete control over their business, which is a major benefit of a sole proprietorship. It allows the owner to make all decisions and have complete autonomy without having to answer to partners or shareholders. However, a sole proprietorship does not provide the protection of limited liability or the ability to obtain additional financial resources like other business structures such as corporations or partnerships. The lifespan is also tied to the owner's lifespan, so it may not be unlimited.

To Many Businesspeople,one of the Major Attractions of a Sole