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Q.

Which of the following is a disadvantage of a sole proprietorship?

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a

Tax advantages

b

Unlimited liability

c

Limited liability

d

Easy formation

answer is A.

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Detailed Solution

A sole proprietorship has unlimited liability, which means that the owner is personally responsible for all the debts and losses of the business. This is a major disadvantage of this form of business organization.

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Which of the following is a disadvantage of a sole proprietorship?