Explain the challenges sole proprietors face when considering whether to expand their business.

Answers

Answer 1

Answer:

• Difficulty in obtaining finance

•Unlimited liability risk

• Assuming too many roles

• Heavy decisions making burden

•Going concern

Explanation:

• Difficulty in obtaining finance is one of the many challenges faced by sole proprietors as he seek business expansion. The risk involved in being a sole proprietor is much hence lenders often find it difficult to finance their business.

•Unlimited liability risk is also a challenge against business expansion for a sole proprietor because he faces the risk of loosing his personal assets and that of the business should the business goes bankrupt or liquidate.

• Assuming too many roles poses as challenge to a sole proprietor as he expand his business. In this case, he becomes the manager, customer attendant, cashier etc all of which will become burden on his as the business grows.

• Heavy decisions making burden. A sole proprietor is responsible for making all the decisions regarding his business hence will affect the business as it expands. Some business decisions requires professional advice else the business will collapse in the long run which is often the case with sole proprietors.

• Going concern is an accounting principle which states that a business will continue to exist and into the foreseeable future which is not the case with a sole business owner as his death ends the existence of the business hence a factor against business expansion.


Related Questions

By hiring your children, you can
pay low wages.

show how much you care.

transfer wealth without estate taxes.

avoid payroll taxes.

Answers

Answer:

Avoid payroll taxes

Explanation:

In hiring your children to work for you, you can avoid payroll taxes as long as they are legitimate employees. This therefore means that one can deduct the children's salary from the business income and then write it down as a business expense. That way, the employer does not have to pay taxes on the salary. The taxes are medicare and /or social security taxes.

In hiring your children, certain rules have to be followed and they include: the child must be a real employee, compensation must be reasonable and you must comply with the legal requirements for employers.

Cheers.

In two to four sentences, explain economies of scale.

Answers

Answer:

Economies of scale is the cost advantage that arises with increased output of a product. Economies of scale arise because of the inverse relationship between the quantity produced and per-unit fixed costs; i.e. the greater the quantity of a good produced, the lower the per-unit fixed cost because these costs are spread out over a larger number of goods. Economies of scale may also reduce variable costs per unit because of operational efficiencies and synergies.

2 features of private limited companies.

Answers

Answer: (1) Legal entity

(2) Perpetual existence

Explanation: A very simple definition of a private limited company would help with subsequent explanation of its features or characteristics.

A private limited company is a business organization with private ownership being held by a few parties known as the shareholders, and these ones have their liability limited to the amount of shares contributed to the business capital. The total membership of owners is limited and hence the name "private."

There are a quite a number of features of a private limited company and two of these are;

(1) Legal Entity

(2) Perpetual Existence

(1) Legal Entity:

Once an organization has been registered as a "limited liability company," it immediately takes it own identity. What this means is that the laws of the country now recognizes the company as an individual with its own name and identity and is clearly distinct from the shareholders (owners of the company). This means the private limited company can have a bank account opened in its own name, it can sue and be sued to court in its own name (and not in the name of the shareholders), and so on. Basically, legal  entity implies that a private limited company is now a person on his/her own and all matters that concern the business organization shall be seen as the company. Hence all assets and liabilities belong to the company and not the shareholders.

(2) Perpetual Existence:

Perpetual or continuous existence as the name implies means the company can continue to remain in existence into the foreseeable future and no time limit can affect it. Also the death or exit of one or more members (shareholders) cannot affect the existence of the company. So if for example, one members retires and exits the company and later dies as a result of old age, with or without replacement of the ex member, the company continues to exist uninterrupted (remember the company is now a person on its own under the law). This explains why many multinationals such as banks and oil and gas producing companies have been in existence for decades and some close to two hundred years in existence (and still counting).

List at least six possible areas that might be included on an externship evaluation form.

Answers

Answer:

•Initiative

•Administrative task

•Maturity

•Appearance

•Attitude

• Dependability

Explanation:

Externship is a programme offered to college students which forms part of their work experience in relation to their course of studies. It affords student to have work experience during their educational study.

The externship evaluation form is a form used by supervisors to assess the performance of students who have undergone externship programme. It contains areas such as how matured is the student on the job, gives explanation of the student's appearance throughout the programme. It also confirms whether the student is dependable based on his experience during the programme, how well the student makes use of his initiative without being told what to do etc.

NEED HELP :( What contract provision (promise) could Amazon agree to that would make it liable for your lost job? (Background: I had a presentation to do for the president of my company. Amazon failed to send my computer on a specific day, it didn't come until 10 days after). THIS IS NOT MY STORY, JUST AN EXAMPLE :)

Answers

Answer:

erm....yes?

Explanation:

Which of the following can send a live stream of updates to your website from your social media sites?
A webcam

A streaming app

A widget

A newsfeed

Answers

Answer:

A webcam

Explanation:

Streaming is the process of accessing, watching, listening to music or video in the 'real-time'. It does not mean that the video or audio is downloaded and then watched or listened to. The file is not downloaded, rather it is just streamed online. A webcam is a device that is used to build the links of the videos to function like a videophone. It is used to record videos that can be further used to stream them on any social media platform.

Answer:

A widget

Explanation:

whoever answer first is getting brainliest :D

Answers

Answer:

I think it's D

It the best answer

Explanation:

The answer is c it’s faster for it too thaw out

Goals, objectives, and strategies are all important parts of a?

A.SMART goal
B.career portfolio
C.professional development
D.career plan

Answers

Answer:

D. career plan.

Explanation:

A career plan can be defined as a plan or strategy that helps an individual to achieve essential career growth.

A career plan helps you to be able to know yourself better by helping you to identify the skills and values that you have that is essential for the career path you want to take. It also tells you about the skills or certification that you will require in other to be able to advance in your career.

A career plan is made up of goals ( Short and long term goals) , objectives and strategies that helps an individual to make well informed decisions and gives such individuals clarity as to where they see themselves in the future.

Need help with this

Will website layout and design differ for companies with similar business focuses? State your opinion.

Answers

Yes because it helps small or similar bussiness Cooperate and make more taxes in profits

PLEASE HELP ME FOR BRAINLIEST ANSWER Which of the following remedies are not available to the non-breaching party upon material breach? Select one: a. sue for punitive damages b. recission c. accept the defective product d. discharge e. compensatory damages

Answers

c because that makes the most sense

Question 16 of 25
2 Points
Which of the following best describes the effect of a tariff on the import of
cars from a foreign country?

A. The domestic economy goes into recession

B. Foreign cars become more expensive.

C. The government runs a budget deficit.

D. Demand for foreign cars is increased.

The answer is B. Foreign cars become more expensive.​

Answers

Answer: B. Foreign cars become more expensive.

Explanation: The tariff slapped on imported goods such as cars and other foreign commodities will raise the overall cost of the product on the side of the seller and definitely the final selling price of such product to the consumers. This is used to raise revenue for the government and also to encourage the manufacture, adoption and support for locally manufactured products. Locally manufactured substitute will tend to be cheaper and the additional tariff may put importers and consumers off, and hence settle for cheaper locally made alternative.

What are some ways that leaders can make the company environment safe?

Answers

Answer:

Explanation:

Respect others. ...

Find out what they expect from you. ...

Be clear about what you expect from them. ...

Set the direction and stay the course if possible. ...

Reduce uncertainty. ...

Be human. ...

Be the real deal.

Answer:

did you ever find out? I need help.

Explanation:

Total industry sales are $100 billion. The four largest firms have sales of $35 billion, $17 billion, $6.8 billion, and $2.2 billion. The industry's approximate four-firm concentration ratio is

Answers

Answer: The industry's approximate four-firm concentration ratio is 61%

Explanation:

Hi, to answer this question, first we have to sum all the four firms sales:

Mathematically speaking:

35 + 17 + 6.8 + 2.2 = 61 billion

Now, we have to divide the result by the total industrial sales:

61 billion /100 billion = 0.61

To express it as a percentage we have to multiply it by 100

0.61 x 100 = 61%

The industry's approximate four-firm concentration ratio is 61%

Feel free to ask for more if needed or if you did not understand something.  

URGENT!! Describe the attractions of growth stocks and value stocks.

Answers

Answer:

Investors who purchase growth stocks receive returns from future capital appreciation (the difference between the amount paid for a stock and its current value), rather than dividends. ... Value stocks are those that tend to trade at a lower price relative to their fundamentals (including dividends, earnings, and sales).

Explanation:

Answer:

Investors who purchase growth stocks receive returns from future capital appreciation (the difference between the amount paid for a stock and its current value), rather than dividends. ... Value stocks are those that tend to trade at a lower price relative to their fundamentals (including dividends, earnings, and sales).

In order to calculate _____ using cost plus markup, a seller needs to know two things the cost of the item in the market.

A. Market share

B. Selling price

C. Number of sales per month

D. Tax rate

Answers

it would be selling price

Answer:selling price b

Explanation:

if the demand for a good increases by more than the supply of the good increases, then the goods equilibrium price will ________ and its equilibrium quantity will __________. group of answer choices

Search Results
Web results

Answers

Answer: Equilibrium price will increase and its equilibrium quantity remains the same

Which of the following would be a key performance indicator for a student pursuing a bachelor's degree in English?
Maintain a minimum average of 80 percent on all exams.
Get 100 percent on next week's quiz,
Use a peer group for help in a tough class.
Attend weekly Writers' Club meetings.

Answers

The correct answer is A. Maintain a minimum average of 80 percent on all exams.

Explanation:

Indicators of performance at school, college, or similar are ways of measuring how well or bad students perform at a specific class or career. This includes the use of grades because these show numerically the advances of students and their average performance.

According to this, an appropriate indicator for a student pursuing a bachelor's degree in English is "Maintain a minimum average of 80 percent on all exams" because an average of 80 percent on different exams shows the student has a good performance as this can be measured through grades. Also, others such as use a peer group or get 100 in only one quiz do not show the general performance.

Answer:

Maintain a minimum average of 80 percent on all exams.

Explanation:

PLEASE ANSWER ILL MARK THE FIRST ANSWER THE BRAINLIEST . Tyyy have a great day

Answers

Answer:

A. With the date in 3 days

Explanation:

It says chicken that was cooked 3 days ago, key word, 3. So it would be answer A.

Mark me BRAINLIEST? Thanks!

So the answer would be A .

In compliance with new policies, banks increased rate of interest on housing loans. Gregory’s real estate business started suffering losses because fewer people borrowed home loans. What risk did his business suffer from?
______ risk held back Gregory’s real estate business.

Answers

Answer:

Economic

Explanation:

This is one of the external risk that is a result in changes in the market conditions.

This is correct on Plato

Credit risk held back Gregory's real estate business.

What is rate of interest?

Interest rate is the percentage at which interest is paid on a loan or the percentage earned on an investment over a certain period of time. It is the cost of borrowing money or the rate at which one can earn money on an investment.

The interest rate is typically expressed as an annual percentage of the principal, and it can be either fixed or variable. When the interest rate is high, the cost of borrowing is high, and this can make it more difficult for individuals and businesses to obtain loans, which can have a negative impact on the economy. Low-interest rates, on the other hand, can make borrowing more affordable and stimulate economic growth.

Learn more about rate of interest, here:

https://brainly.com/question/13324776

#SPJ2

Which of the following accurately describes a capital gain?
A. Arise in the standard of living
B. The difference between costs and revenues
C. An upward trend in prices
D. An increase in the value of an investment​

Answers

Answer:

A. Arise in the standard of living

Explanation:

A. Arise in the standard of living

Which of the following is the most liquid?

Municipal bonds.

Savings accounts at a local bank.


Collectible antique cars.

Stock mutual funds.

Answers

Answer:

Option(2) i.e  " savings accounts at a local bank." is the correct answer to the given question .

Explanation:

Liquid asset are those asset that are rapidly translated into the cash money.The liquid asset is the connection cash in hand asset or perhaps the  asset that can quickly be turned into the cash money.

We will withdraw the money many number of times it means in the option(2) the money is turned into the cash money. this is an example of the liquid asset .All the other options are not turned into the cash money that's why it is not liquid asset .So these are incorrect option.

Isabel is creating a wireframe she has drawn a layout for the home page along with outlining the navigation elements she now wants to represent content and a banner for the home page what should she use?
Isabel should use (???) to show where the content and banner will go

Answers

Answer: Filler Content

Explanation:

I think what the question is getting at is using filler content. This includes filler images and sample text. Once the website is all set up, the filler content is replaced with the actual content.

Answer:

the correct answer is placeholder

Explanation:

right on plato :p

what are three ways the role of the secretary has changed in recent years?​

Answers

Answer:

Following are some ways the role of secretary has changed:

1) From Man to Women

Back in time, secretaries were men, but when during different wars (especially world war 1 and 2) men used to fly away, this title slipped to the women.

2) Change of responsibilities

The role of a secretary was mainly to make appointments, keep records. bring coffee for the boss, but now a secretary has been rebranded as an assistant or office administrator which covers the expanding responsibilities of an office.

3) From Dictation or Decision Making

Secretaries used to get dictated by their bosses but now they have become an important part of the decision making processes.

Demonstrating opportunity cost is done through production

Oanalysis
Opossibility
Ocalculation.
Oresearch

Answers

Answer:

Possibility

Hope this helps :)

Explanation:

Prompt
A close family member explains that she does not give money to charity because she "wouldn't receive any personal benefit
from donating and because "most charities waste their donations on salaries and other administrative expenses."

Answers

Answer:

You have the control to decide which causes you ultimately want your donations going to. If you give donations to large organizations they have the control over exactly how the money is used but in your foundation you can dictate where and to whom you want the money going to. And if you donate to a non profit cvharity you will not be paying people that money will directly go to the orginization. From donating you can feel good about yourself, you did something good. It is unreasonable to say " wont recive personal benifits", in my opinion if you are looking for any personal benifit from donating to a non profit then you need a new hobby.

Although you can expect to not gain anything in the world as of money wise and materialistic things. When you donate to charity it shouldn't be about any of that it should be the sheer determination to do good and help others. Going into something like donating to charity could be compared to feeding the homeless, or helping out after a natrual disaster. People need help in the world and as a person, i belive that it is only right to donate if you are doing well financialy stop being greety.

Since worries of money wasting invades the minds of many people when it comes to donating, You will be entitled to a tax break when you will give your money as a gift to a nonprofit organization. At the end of years, you will get the taxable receipt from the charity you’ve donated to. you can keep it with the other tax documents and your tax amount will be deducted. If you are in 15% tax bracket, donating $100 will allow you to save 15% of the tax. In this way instead of giving your hard-earned money to the government, you can use it in a better way.

Explanation:

A lot of typos but best answer on here !!!

A close family member explains that she does not give money to charity because she "wouldn't receive any personal benefit from donating and because "most charities waste their donations on salaries and other administrative expenses."

We can not assume that every organizations have different work lines and also everyone has different perspective.

What are donation?

A donation is a gift usually from a charitable nature. A donation is a voluntary transfer of property (often money) from the transferor (donor) to the transferee with no exchange of value (consideration) on the part of the recipient. (The recipient gives nothing in exchange for the donated property.) When a donor knowingly, intentionally, and unconditionally conveys property (or a symbol of the intended property) to donator  the donation goes into effect and becomes irrevocable upon the donator acceptance thereof.

What are administrative expenses?

Administrative expenses are expenses an company incurs that are not directly tied to a specific core function such as manufacturing, production, or sales. These overhead expenses are related to the organization as a whole, as opposed to individual sectors or business organizations can deduct from their tax returns administrative expenses that are reasonable, ordinary, and necessary for business operations. These expenses must be incurred during the usual course of business and deducted in the year they are incurred.

To learn more about donation here

https://brainly.com/question/14384618

#SPJ3

I WILL MARK BRAINLIEST!!!!! Please answer ASAP ty.

Answers

Answer:

A

Explanation:

A new company has said its main priority is gaining marketshare how is this likely to affect their prices?

A. They will likely lower prices someone to attract customers

B. They will set extra high prices but then often run good sales

C. They will spend heavily on advertising so that they will have to change higher prices to cover those extra expenses

D. Market share has nothing to do with changing prices

Answers

Answer:

A. They will likely lower prices to attract customers

Explanation:

Market share is the percentage of a market that à particular entity has a foothold of.

For a new company to gain a reasonable foothold in the marketshare, they would have to lower prices to attract customers.

This strategy is especially effective because they would get a certain percentage of the market base because of the reduced price.

Answer:

a.

Explanation:

I’ll mark brainliest

Answers

Answer:

Yes C is correct

Explanation:

I think the answer would be D

You are concerned about inflation eroding your college savings. You should put your money in an account that offers
A: an interest rate lower than inflation
B: an interest rate higher than inflation
C: low balance transfer fees
D: FDIC insurance

Answers

Answer:

Option B

Explanation:

In simple words, the given case relates to the time value of money. As the inflation in the economy rises the price level also rises leading to lower value of the money in the accounts.

If a depositor gets interest on his or her savings more than the inflation rate than they will get their money worth as per the standards of the inflation. Thus, we can conclude that the correct option is B.

Answer:

Option B: An interest rate higher then inflation

Explanation:

Food Safety - Potential Hazards (CORE)
<
To help prevent chemical contamination, where should you store chemicals?
O Below food storage areas
In the bathroom
O Above food storage areas
O Away from food

Answers

Answer:

Away from food

Explanation:

Chemicals should be stored away from food because the slightest contact between them would lead to chemical contamination

Other Questions
Describe how a change in resistance would affect the current in a circuit. Exponent of x?Exponent of y? Item 50There are 6 green marbles and 7 blue marbles in a bag. You randomly choose one of the marbles. What is the probability of choosing a green marble? Write your answer as a fraction in simplest form. The top of a lighthouse is 100 m above sea level. The angle of elevation from thedeck of the sailboat to the top of the lighthouse is 28. Calculate the distancebetween the sailboat and the lighthouse. If the temperature outside increases, but the amount of water vapor stays the same, what happens to the relative humidity? (50 points, please explain) 1. Find the equation of the line passing through the point (2,4) that is parallel to the line y=3x+2 y= 2. Find the equation of the line passing through the point (1,5) and perpendicular to y=18x+2 y= The following is a list of the steps that occur in the production of an auditory sensation. The pressure wave distorts the basilar membrane on its way to the round window. Movement of the tympanic membrane causes displacement of the malleus. Displacement of the stereocilia stimulates sensory neurons of the cochlear nerve. Movement of the malleus causes movement of the incus and stapes. Distortion of the basilar membrane forces the hair cells of the organ of Corti toward or away from the tectorial membrane. Movement of the oval window establishes pressure waves in the perilymph of the vestibular duct. The proper sequence for these steps is Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100.000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. 0.76 points March 1 Issues 60,000 additional shares of $1 par value common stock for $57 per share. May 10 Purchases 5,500 shares of treasury stock for $60 per share. June 1 Declares a cash dividend of $1.75 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,750 shares of treasury stock purchased on May 10 for $65 per share Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Common Stock, $100,000; Additional Paid-in Capital, $5,000,000; and Retained Earnings, $2,500,000. Net income for the year ended December 31, 2021, is $650,000. Required: Prepare the stockholders' equity section of the balance sheet for Power Drive Corporation as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) give me 8 ambitious words to describe ideas/feel/tone about the boy in the striped pajamas novel. will give brainliest 4x and 16y are like terms.O A. TrueO B. False If x and y are positive real numbers, which expression is equivalent to the expression below?(49x^2y)^1/2(27x^6y^3/2)^1/3A.) 21x/^3yB.) 10x^2yC.) 10x^3yD.) 21x^3y^2 Factor the expression 15x+10 using the GCF.Help plz ASAP will give brainliest to first who solves! Whats the correct explanation for this question? Most of the communication that takes place in the novel is by... Find the value of XPlz help me its emergency According to the armistice, the demilitarized zone (DMZ) was established to...A.ensure that the provisions of the agreement were met.B.give the UN a foothold in the region.C.create a barrier between the two sides.D.prevent the reunification of Korea.The answer is Chave a good day! 2 PointsYou are a forensic scientist working for a police department. One pieceof evidence from your current case is a letter written in a strange ink. Youmust separate the pigments in the ink to determine what it is made from.What procedure should you use?A. DistillationOB. EvaporationC. FilteringddD. ChromatographyReset Selection my last question and im done, please help! Can someone pls help me solved this problem plz! I really need help plz someone help me solved it! I need help ASAP! Identify the particle represented by each symbol as an alpha particle, a beta particle, a gamma ray, a positron, a neutron, or a proton. a. 11P b. 42He c. +10e