The characteristic of a sole proprietorship would be:Group of answer choicesA business with many owners, where decisions are made by a board and where the liability of the owners is limitedA business with a single owner that makes the business decisions and where the liability of the owner is limitedA business with a group of two or more people, where the business decisions are dependent on agreement and where the liability of the owners is limitedA business with a single owner that makes the business decisions and where the liability of the owner is unlimited

Which of the following is NOT an advantage of a sole proprietorship?independence in business decisionseasy to organizekeeping all profitslimited liability

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

The liability of a sole proprietor is:a) Limited to the capital investedb) Limited to the extent of his sharec) Unlimitedd) Limited to the profits

Which of the following is not an advantage of a sole proprietorship?It is inexpensive to set up.Changes to the owner's business plan can be made easily.Liability is limited.Losses incurred by the business can be set off against the owner's income from other sources to reduce income tax.

One major advantage of organizing a business as a sole proprietorship is that:A.the business has an unlimited life span.B.it is easy to quickly raise large sums of capital.C.risk and liability are divided among many people.D.it is fairly simple to get the business started.