Respuesta :
The advantages of chosing the sole proprietorship model are the following:
- It can be inexpensive and easy to set up.
- Many types of business taxes are not required.
- Owners can keep profits for themselves.
The sole propietorship is a format of enterprise ownership through which a single person or entrepeneur owns and runs the firm. This person earns all the profits generated and has unlimited liability for losses or debts. In general, this figure of the entrepeneur tries to be fostered. This is why many countries tend to reduce the initial costs required to set such a firm, and why these enterprises do not have to pay certain taxes as for example, there is not a corresponding tax for sole propietors similar to the societies tax.
This person is the only one making the decisions and the only one accountable for the finances of the enterprise, for example concerning debts. Therefore the owner is liable for those debts.
The sole proprietorship is the individual proprietorship, in which a single person owns and runs the enterprise. The sole proprietorship does not involve any legal distinction between the owner and business entity.
The advantages of the sole proprietorship are:
- It can be inexpensive and easy to set up.
- Many types of business taxes are not required.
- Owners can keep profits for themselves.
The sole proprietorship is an enterprise owned by a single person or an entrepreneur.
The owner earns all the profits and has unlimited liability for the debts. The reason for the reduction in the initial cost to set such a firm is that the entrepreneur tries to be fostered.
These enterprises do have not to pay any taxes and there is not a corresponding tax for the sole proprietors like the society's tax.
Thus, one person is accountable for the decision-making and finance of the enterprise. The owner is liable for those debts.
To know more about sole proprietorships, refer to the following link:
https://brainly.com/question/13157791
