Starting a new business as a sole proprietorship: a) requires retaining the services of an attorney. b) is simple, but the proprietorship fee is very expensive in some states. c) is usually simpler and less expensive than starting other forms of ownership. d) is very similar to starting a business as a corporation.

Question

Creep

Business

28 November, 05:06

Starting a new business as a sole proprietorship: a) requires retaining the services of an attorney. b) is simple, but the proprietorship fee is very expensive in some states. c) is usually simpler and less expensive than starting other forms of ownership. d) is very similar to starting a business as a corporation.

+1

Answers (1)

Know the Answer?

Victoria Walls · Answer 1

Answer: c) is usually simpler and less expensive than starting other forms of ownership.

Explanation:

A sole proprietorship is known as a business established, owned and controlled by one person. It is a form of business whose owner takes the risk, profit and losses all by himself. Furthermore, he makes decision regarding the day today running activities of the business and he is known as a sole proprietor. Thus, it is very easy to establish because it does not require much capital which makes it to be less expensive to operate.