Respuesta :

hamzatauseef

Answer:

See below.

Explanation:

Following are some of the characteristics of sole owners.

  • They own the business and thus are their own boss.
  • The business has no separate legal identity and any obligation of the business are directed towards the owner as well.
  • There is no unlimited liability and thus the owner is legally liable.
  • There are no separate taxes on profits and income. Single income tax is applicable.
  • The owner of the business bears all the risk and would lose personal wealth in case of solvency.

Hope that helps.

Otras preguntas