Question

A sole proprietor needs skills in which of the following?

1) Accounting
2) Marketing
3) Human Resources
4) All of the above

Answer 1

A sole proprietor needs skills in accounting, marketing, and human resources to effectively run their business, as they are responsible for all aspects of management.

Step-by-step explanation:

A sole proprietor needs skills in all of the following areas: accounting, marketing, and human resources. As the sole owner and manager of the business, they must be adept at managing finances, which includes bookkeeping, preparing financial statements, and understanding tax obligations. In marketing, they need to promote their products or services effectively to attract customers and generate sales. And finally, even if they do not employ staff, human resource skills are essential for networking, negotiation, and any potential future expansion that involves hiring employees.