Question

in which of the following firm structure compliance cost is maximum a)sole proprietorship b)ltd liability partnership c)pvt ltd company d)public ltd company

Answer 1

Sole Proprietorship, because the risk is undivided.

Only a single Partner will have to pay if any kind of loss happens.

It is a great way to avoid any type of extra risk that can risk the business or property.

However, the best thing is that if a loss occurs then things will not come up to anyone by the sole person whose property that is.

Answer 2

Firm structure: A firm structure or business structure is a format that is legally recognized and characterized by the legal definition of that particular category.

There are many types of business structures. Some of them are,

• Sole Proprietorship
• General Partnership
• Limited Partnership
• Limited Liability Partnership (LLP)
• Limited Liability Limited Partnership (LLLP)
• Trust
• Joint Venture

Sole proprietorship: An individual or a couple in business which is simple to form and operate is called Sole proprietorship.

It provides greater flexibility, few legal controls, and less taxes.  

However, the owner is liable for all debts and costs incurred by the business.

Hence, in a Sole proprietorship the compliance cost is maximum.

The answer is (a) Sole proprietorship

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