URDU101 ASSIGNMENT 1 SOLUTION 2022 GET THE SOLUTION FILE FROM THE BELOW LINK.
Sole property:
It belongs to one person (often also used as administrator). For example, small shops, Farms, service occupations, and professional activities (law, medicine, etc.). his trading account Although separate from the owner’s personal account. Legally they are not companies or owners.
URDU101 ASSIGNMENT 1 SOLUTION SPRING 2022
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Different. It is an unincorporated business in which the owners are personally liable for the business’s debts. Creditors focus on the solvency of the owner, not on the financial position of the company. The owner is personally responsible for all business obligations.
URDU101 ASSIGNMENT 1 SOLUTION SPRING 2022
If the organization is sued, the owner Individuals are subject to proceedings and have unlimited liability. That is, most of the personal belongings Business assets and business assets can be confiscated to resolve claims.
Another problem with the soles of the feet Ownership is difficult to raise money. For a practical life and success
If you are dependent on a sole proprietor, you may not be as attractive as other sole proprietors. Organizational form. In addition, the property has some tax disadvantages.
Furthermore, The downside is that the ownership form is more difficult to transfer than the ownership form.
No part of the business can be transferred to the family during the course of the corporate form. Duration of the owner For these reasons, this type of organization is inflexible.
