What is a sole proprietorship?
For unlimited access to Homework Help, a Homework+ subscription is required.
Which of the following is an advantage of a sole proprietorship?
a) It is easy to expand if it succeeds.
b) It faces few government rules.
c) It is easy to get financing to start one.
d) It has the lowest federal income taxes.
Partnerships refer to more than one owner. A limited partnership ______________.a) consists of general partners and limited partners, at least one of eachb) is a shadow firm for a much larger corporation. It is like a shell company to dispose of risky assetsc) is taxed similar to a corporation, whereas a general partnership is taxed like a sole proprietorshipd) is limited by the number of partners allowed. There can only be a total of 10 partners actively involved in the business