Misc.
Disadvantages
Advantages
100
A sole proprietorship is form of business that is owned and operated by ________ _______
What is one person
100
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
100
The owner has ______ control of the business
What is complete
200
if a owner plans to hire an emplyee he/she must have a EIN. Also known as
What is a employer identification number
200
all money used to finance the business must come from the proprietors savings, income, or loans
What is limited capital
200
the proprietor gets to keep all of the ________ from the business
What is profits
300
In a sole proprietorship the business owner has limited access to this
What is capital
300
a sole proprietorship lasts only as long as the proprietor
What is limited lifetime
300
Sole proprietors do not pay these as a business
What are taxes
400
The forbid the operation of businessesin residential neighborhoods and can restrict the location of a sole proprietorship
What are zoning ordinances
400
Sole proprietorship has a limited lifetime therefore it isn't like a coorportaion it doesn't have ______
What is perpetual existance
400
You must get these to legally own a motel or resturaunt.
What are licenses
500
this is the most common way to do business
What is a sole proprietorship
500
Even personal property of a so;e proprietor may be used to satisfy the ______ of the business.
What is depts
500
Plumbers and barbers must have occupational lisence and this kind of insurance to run their business.
What is liability
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