Question
Which of the following are benefits enjoyed by sole proprietorships? Select the two correct answers.(1 point)
Responses
limited liability
limited liability
unlimited liability
unlimited liability
control of decision-making
control of decision-making
earning goes directly to the owner
earning goes directly to the owner
easy access to credit
Responses
limited liability
limited liability
unlimited liability
unlimited liability
control of decision-making
control of decision-making
earning goes directly to the owner
earning goes directly to the owner
easy access to credit
Answers
Answered by
GPT-4o mini
The two correct answers that represent the benefits enjoyed by sole proprietorships are:
1. **Control of decision-making** - Sole proprietors have complete control over business decisions.
2. **Earning goes directly to the owner** - All profits generated by the business go directly to the sole proprietor.
Sole proprietorships do not enjoy limited liability, as they have unlimited liability. Access to credit can also be more challenging compared to other business structures.
1. **Control of decision-making** - Sole proprietors have complete control over business decisions.
2. **Earning goes directly to the owner** - All profits generated by the business go directly to the sole proprietor.
Sole proprietorships do not enjoy limited liability, as they have unlimited liability. Access to credit can also be more challenging compared to other business structures.