Question

Explain the advantages and limitations of sol-proprietorship.​

Answer 1

Answer:

Sole proprietorships have several advantages over other business entities. They are easy to form, and the owners enjoy sole control of the business profits. However, they also have disadvantages, the biggest of which being that the owner is personally liable for all business losses and liabilities.

Answer 2

Answer:

advantages are :-

quick decision making

confidentiality

sense of accomplishment

ease of formation and closure

direct incentive

limitations are :-

limited resources

limited life of business concern

unlimited libilities

limited managerical ability