A major disadvantage of sole tradership isQuestion 17Answera.Unlimited Liabilityb.Easy formationc.Large Lifed.Secrecy

There are disadvantages to being a sole trader. Select all that apply.Select ALL correct optionsThe business ceases to operate if the owner dies1Finances for the business are limited to the owner's financial situation2The owner needs to be multi-skilled and perform a wide variety of tasks3None of the above

A major advantage of a joint stock company isQuestion 11Answera.limited Liabilityb.Easy formationc.short Lifed.Secrecy

Which of the following is not one of the advantages of a sole proprietorship?Multiple Choiceease and cost of formationsecrecyflexibility and control of the businessunlimited liability

Which of the following is an advantage of being a sole trader?Group of answer choicesA sole trader business is inexpensive to set up and easy to wind down.A sole trader has limited access to skills and resources.A sole trader pays less tax.A sole trader has unlimited liability.

Which of the following is a disadvantage of sole proprietorships?Multiple Choicesharing of profits with major stockholderslack of continuitylack of business controlstringent government regulationsabsence of a tax-exempt retirement account