Explain the advantages and limitations of sol-proprietorship.
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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.
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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
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