Multiple Choice QuestionFor a small business entrepreneur, independence refers to ______.Multiple choice question.freedom from government regulationsremoval of tax liabilitybeing your own bossnot having to work with anyone else

Multiple Choice QuestionBeing able to be your own boss is one of the leading reasons that entrepreneurs choose to go into business for themselves. This advantage of small-business ownership is referred to as _______.Multiple choice question.reputationindependenceinnovationfocus

Multiple Choice QuestionIn a sole proprietorship, any debts or damages incurred by the business that cannot be paid by the business are considered personal debts and the owner must pay them. This disadvantage can be termed _____.Multiple choice question.taxationlack of continuityunlimited liabilitylimited liability

Multiple Choice QuestionOne advantage of a partnership is that ______.Multiple choice question.it is easy to createthere is unlimited liabilityit has perpetual lifethere are no taxes

Multiple Choice QuestionWhat is a disadvantage of sole proprietorship?Multiple choice question.Unlimited liabilityLimited government regulationYou get to keep your profitsTaxed at a lower rate

Multiple Choice QuestionIt is easy to start a sole proprietorship because ______.Multiple choice question.you do not have to adhere to any government regulationsyour partners do not vote or have limited votingthe only requirement is the disclosure of the business' financial statementsit may only require a simple permit or license to start