What business concept would be appropriate for a sole proprietorship, a corporation, and a limited liability company, respectively? If you were opening your dream business, what structure would you select? Why?
Expert Answer
A sole proprietorship can be seen as an unincorporated business which is owned and operated by a single person and it does not involves any other person or entity and thus there is almost no discrimination between the owner and the business. The sole proprietor will be having the ownership of all the profit, and will be responsible for different losses and liabilities.
Pros:-
Complete authority over the
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