Foundations of Financial Management
16th Edition
ISBN: 9781259277160
Author: Stanley B. Block, Geoffrey A. Hirt, Bartley Danielsen
Publisher: McGraw-Hill Education
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Chapter 1, Problem 3DQ
Summary Introduction
To Explain: The major advantages and drawbacks of a sole proprietorship.
Introduction:
Sole proprietorship:
A business entity owned and operated by one person is a sole proprietorship entity. It is not a separate legal entity and is neither required to be registered nor incorporated. The type of business opted by a sole trader is usually a small or medium one.
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Foundations of Financial Management
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