Question

28) Give the meaning of ""Sole Proprietorship"". State any five advantages of Sole Proprietorship form of business organization.

Answer 1

Answer:

Sole proprietors can employ others and grow their business. Sole proprietorships can hire others and enjoy the tax benefits from doing so. Additionally, spouses of the owner can work for the sole proprietorship without being declared as an employee. Owners have complete and direct control over all decision making.

Answer 2

$\large \boxed{Answer}$

Sole proprietors can employ others and grow their business. Sole proprietorships can hire others and enjoy the tax benefits from doing so. Additionally, spouses of the owner can work for the sole proprietorship without being declared as an employee.

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