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You would like to start a cellular telephone equipment service business. You are considering organizing the business as a sole proprietorship. Identify the advantages and disadvantages of owning a sole proprietorship. Three advantages of owning a sole proprietorship 1. Unification of ownership and management. 2. Easy to organize. 3. No continuous life or transferability of ownership 4. No income tax on net income. 5. The owner pays taxes on proprietorship's earnings since it is not a separate tax entity. 6. Unification of ownership and management.7. Unlimited liability of owner.

Answer :

Answer and Explanation:

The advantages and disadvantages of the sole proprietorship is as follows:

Advantages

1. It is easy for organizing

Disadvantages

1. Unlimited owners liability

2. pays taxes on earnings as it is not a separate tax entity

3. There is no continuous life or ownership transfer

So in this way it should be allocated on advantages and disadvantages

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