Answered

5. Which of the following is a disadvantage of owning a sole proprietorship?

A. You must get your city's permission to close your business.
B. You cannot sell your business to anyone without a permit to do so.
C. You can lose all your personal property if your business fails.
D. You have to follow more government regulations than other businesses.



Answer :

GinnyAnswer

Final answer:

Owning a sole proprietorship can lead to personal liability and potential loss of personal assets in case of business failure.


Explanation:

One of the disadvantages of owning a sole proprietorship is the personal liability by the owner, which can result in the owner losing personal assets in the event of bankruptcy or lawsuit. This means that the owner's personal property is at risk if the business fails.


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