Which of the following are benefits enjoyed by sole proprietorships? Select the two correct answers.(1 point)

Question

Responses

earning goes directly to the owner
earning goes directly to the owner

easy access to credit
easy access to credit

control of decision-making
control of decision-making

unlimited liability
unlimited liability
Question 2
Which of the following statements is true about sole proprietorships?(1 point)
Responses

A sole proprietorship is the simplest form of business organization.
A sole proprietorship is the simplest form of business organization.

The owner of the sole proprietorship must report to shareholders.
The owner of the sole proprietorship must report to shareholders.

A sole proprietorship can continue if the owner dies.
A sole proprietorship can continue if the owner dies.

The owner of the sole proprietorship has limited liability.
The owner of the sole proprietorship has limited liability.
Question 3
Which of the following is a characteristic of general partnerships? (1 point)
Responses

The partnership has limited life.
The partnership has limited life.

The partners have limited liability.
The partners have limited liability.

Each partner has different rights when representing the partnership.
Each partner has different rights when representing the partnership.

One person is the owner of a general partnership.
One person is the owner of a general partnership.
Question 4
What primary responsibility do the shareholders of a corporation have?(1 point)
Responses

electing a board of directors
electing a board of directors

hiring management to oversee production
hiring management to oversee production

overseeing production
overseeing production

providing their own labor for the production process

Answer 1

Here are the correct answers for each of your questions:

Question 1

Benefits enjoyed by sole proprietorships:

1. Earning goes directly to the owner
2. Control of decision-making

Question 2

True statement about sole proprietorships:

• A sole proprietorship is the simplest form of business organization.

Question 3

Characteristic of general partnerships:

• The partnership has limited life.

Question 4

Primary responsibility of shareholders of a corporation:

• Electing a board of directors.

Feel free to ask if you have more questions!