Question
Discuss the advantages of Proprietorship.
Answer :
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Some of the main advantages of sole proprietorships are :
Ease of formation: Starting a sole proprietorship is much less complicated than starting a formal corporation, and also much cheaper. Some states allow sole proprietorships to be formed without the double taxation standards applicable to most corporations. The proprietorship can be named after the owner, or a fictitious name can be used to enhance the business’ marketing.
Tax benefits: The owner of a sole proprietorship is
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