Business, 12.07.2021 21:40 pipo5699

You would like to start a cellular telephone equipment service business. You are considering organizing the business as a sole proprietorship. Identify the advantages and disadvantages of owning a sole proprietorship. Three advantages of owning a sole proprietorship 1. Unification of ownership and management. 2. Easy to organize. 3. No continuous life or transferability of ownership 4. No income tax on net income. 5. The owner pays taxes on proprietorship's earnings since it is not a separate tax entity. 6. Unification of ownership and management.7. Unlimited liability of owner.

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