Misc.
what is one common way to do businesses?
A sole proprietorship is one of the common way to do business.
is a legal duty pleaced on a business owner that requires the owner to be responsible for all losses experienced by the business
What is unlimited liability
Plumbers and barbers must have occupational license and this kind of insurance to run their business.
What is liability
what is a sole proprietorship?
A Sole Proprietorship's is a business owned and managed by a single person
What does easy to open and close mean?
A sole proprietor can open and close their businesses as they please
Give at least three local sole proprietorship's.
Dollar Store, Al La Kebab, Chill Spot
a sole proprietorship lasts only as long as the proprietor
What is limited life
Name at least two Advantages
Easy to open and close,Few regulations,freedom and control, and the owners get to keep the profut.
who is Mary Kay Ash?
she created Mary Kay Inc., a company that offers women unique rewards for business success
what does limited funds means?
this means that the owners has little to no money to pay and support their employees.
True or False
Sole proprietorship one of the most common business structure?
true
what are the characteristic of sole proprietorship?
Sole Ownership, Limited work area, No legal formalities
what is the main reason that sole proprietorship's are likely to fail?
limited funds
what does freedom and control means in sole proprietorship?
this means that the owner has the freedom to make and do anything he wants with his business without having to check with any board members or partners.