Question

1. Which advantage is not enjoyed by the owner of a sole proprietorship?

-the power to decide what to sell


-the right to claim all the profits


-the ability to easily raise financial capital


-the authority to establish business practices
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2. Which disadvantage do the owners of partnership have?


-they must answer to their shareholders


-their personal property can be used to save debts


-they require a corporate charter


-they must publicly disclose all financial records to stock owners
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3. Which component within a corporation elects the board of directors?


-workers


-the president


-all the vice presidents


-shareholders
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HELP PLEASE!!!

Answer 1

The correct answer to 1 is the ability to easily raise financial capital.

A sole proprietor is limited to the cash that they personally have, so this is a disadvantage when they need additional capital for the business.

The correct answer to 2 is that their personal property can be used to pay debts.

A partnership is personally responsible for the debts of the company. If the company owes money and cannot pay it, the partners that own the business are personally responsible.

The correct answer to 3 is the shareholders.

The shareholders are the owners of the corporation. They vote for a board of directors who in turn oversee the operation of the corporation.