Foundations Of Financial Management
17th Edition
ISBN: 9781260013917
Author: BLOCK, Stanley B., HIRT, Geoffrey A., Danielsen, Bartley R.
Publisher: Mcgraw-hill Education,
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Question
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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Chapter 1 Solutions
Foundations Of Financial Management
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