Question

Discuss the advantage and disadvantages of incorporation of a company

Answer 1

Explanation:

1. Disadvantages: The administration costs are more expensive with a corporation than with a partnership or a sole proprietorship. Administration costs include incorporation costs, annual financial statements and annual corporate income tax return. Losses in an incorporated business can't be personally claim

Answer 2

Explanation:

Disadvantages: The administration costs are more expensive with a corporation than with a partnership or a sole proprietorship. Administration costs include incorporation costs, annual financial statements and annual corporate income tax return. Losses in an incorporated business can't be personally claimed.