What are the benefits of a sole proprietorship?

Question

Quizplus · Accepted Answer

The benefit of a sole proprietorship is that there is only one owner, allowing for easy decision-making and flexibility in operations. However, the owner also has full responsibility for all aspects of the business, including financial and legal liabilities. Option A is incorrect as the sole proprietor has full responsibility, not no responsibility. Option B is incorrect as sole proprietorships do not involve sharing financial rewards with others. Option D is incorrect as sole proprietorships do have benefits.

What Are the Benefits of a Sole Proprietorship