one advantage of the sole proprietor is that

Assessment: WAEC SSCE - Economics - 2003 (Objective) Subject: Economics

Question 1 Report

one advantage of the sole proprietor is that
Answer Details
A sole proprietorship is a type of business that is owned and operated by a single individual. One advantage of the sole proprietor is that control and supervision are under one man, meaning that the owner has complete autonomy over decision-making and operations. This allows for quick and efficient decision-making without the need for consultation with others. Additionally, the owner is able to keep all profits earned by the business, and is not required to publish accounts or financial information to the public. However, it is important to note that the success of the business is not guaranteed, and funds may not always be easy to obtain.

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