Problem

Organizing a proprietorshipYou begin No Limits Cell Service by investing $10,000 of your o...

Organizing a proprietorship

You begin No Limits Cell Service by investing $10,000 of your own money in a business bank account. You receive capital. Then the business borrows $5,000 cash by signing a note payable to Summit Bank.

Requirement

1. Identify the advantages and disadvantages of owning a proprietorship.

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