ZuoTi.Pro
Question

Which of the following is a characteristic of a sole proprietorship? O A. Can continue indefinitely O B. Easy to form O C. Ea
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Easy to form.

Sole proprietorship's are easy to form, and the owners enjoy sole control of the business profits

0 0
Add a comment
Know the answer?
Add Answer to:
Which of the following is a characteristic of a sole proprietorship? O A. Can continue indefinitely...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Which of the following is a characteristic of a sole proprietorship? It can sell ownership shares...

    Which of the following is a characteristic of a sole proprietorship? It can sell ownership shares to the public It provides limited liability for its owners It subjects its owners to double taxation It is the easiest form of business to begin

  • 1)Which one of the following is a correct statement concerning a sole proprietorship? Select one: A....

    1)Which one of the following is a correct statement concerning a sole proprietorship? Select one: A. It may be difficult to transfer the ownership of a sole proprietorship. B. A sole proprietorship is relatively difficult to form. C. The losses incurred by a sole proprietor are limited to the amount invested in the firm. D. The profits earned by a sole proprietorship are subject to double taxation. E. A sole proprietorship is more highly regulated than a corporation.

  • which of the following accounts is debited n Jones is the owner of a sole proprietorship...

    which of the following accounts is debited n Jones is the owner of a sole proprietorship Van took $6,000 from tie business for personal use. Which f the olling acccnts in dete A Jones, Capital B. Cash C. Jones, Withdrawals D. Jones, Dividends Click to select your answer 1-32 of 32

  • 2. Which of the following statements is true of a sole proprietorship? A) A sole proprietorship...

    2. Which of the following statements is true of a sole proprietorship? A) A sole proprietorship joins two or more individuals as co-owners. B) The sole proprietor is personally liable for the liabilities of the business. C) A sole proprietorship is taxed separately from the owner. D) A sole proprietorship has to pay business income taxes 3. Ten years ago a company purchased a building for $160,000. At that time, the company felt that the building was worth $185.000. The...

  • Answer the questions below: Which one of the following statements correctly applies to a sole proprietorship?...

    Answer the questions below: Which one of the following statements correctly applies to a sole proprietorship? The owner of the business has no personal liability. The ownership can easily be transferred to another individual. The owner enjoys limited liability for the firm's debts. The owner owns all the shares of the corporation. E. The owner is personally liable for all activities and debts of the business. 2. True or False. A corporation that has debt is worth less than a...

  • 1) Which of the following is true of sole proprietorship? a)They form the majority of all...

    1) Which of the following is true of sole proprietorship? a)They form the majority of all businesses located in the United States. b)They are the most expensive type of business to create and maintain c)They account for the majority of the profits made in the United States d)They are entities which protect their owners from all types of liability. 2) Which of the following is true of general partnerships? a)General partnerships are taxable entities operated by a sole proprietor. b)General...

  • Consider the following separate situations, identify each as being a sole proprietorship, partnership or corporation.

    Consider the following separate situations, identify each as being a sole proprietorship, partnership or corporation.DescriptionBusiness Organizationa. Micah and Nancy own Financial Services, a financial services provider, Neither Micah nor Nancy has personal responsibility for the debes of Financial Services.b. Riley and Kay own Speedy Packages, a courier service. Both are personally liable for the debts of the business.c. IBC Services does not have separate legal existence apart from the one person who owns it.d. Trent Company is owned by Trent Malone,...

  • Which of the following are characteristics of the corporate organizational form? Easy to set-up Must be...

    Which of the following are characteristics of the corporate organizational form? Easy to set-up Must be owned by one person Limited liability of owner(s) Could be owned by one person or multiple people More favorable tax treatment than the partnership form Payments to owners are called dividends. Owner(s) personally liable for business debts Must be owned by two or more people Separate legal entity Often easier to acquire capital than other forms

  • Incorrect Question 1 0/1 pts Which of the following is a drawback of a sole proprietorship,...

    Incorrect Question 1 0/1 pts Which of the following is a drawback of a sole proprietorship, SP? ease of setup and liquidation 1- unlimited life of the SP company owner none of the above ownership and control by a single person

  • Consider the following separate situations, identify each as being a sole proprietorship, partnership, corporation, or limited liability company.

    Consider the following separate situations, identify each as being a sole proprietorship, partnership, corporation, or limited liability company. DescriptionBusiness Organizationa.Raymond and Amy own Security Services. The business is not a separate legal entity.b.Physio Products does not pay income taxes and has one owner. The owner has unlimited liability for business debt.c.Riley and Kay own Speedy Packages, a courier service. Both are personally liable for the debts of the business.d.Lannister owns Wealth Management. The business is a separate legal entity and pays...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT