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What is the disadvantage of being a sole proprietorship firm owner?
7. What is the disadvantage of being a sole proprietorship firm owner?
- Personal Control
- Easy Formation
- Unlimited Liability
- Faster Decision Making
Answer: C) Unlimited Liability
Explanation:
As a sole owner, you will have a limitless risk for any obligations of the business. This implies that, on account of a claim, someone could come later your resources just like your business resources.