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Business, 02.09.2021 18:50 buiratsamah

A proprietorship has three important advantages: (1) It is easily and inexpensively formed, (2) it is subject to -Select- government regulations, and (3) it is subject to lower income taxes than are -Select- . However, a proprietorship also has three important limitations: (1) A proprietor has -Select- personal liability for the business' debts. (2) The life of the business is limited to the life of the individual who created it. (3) A proprietorship has difficulty obtaining large sums of capital so proprietorships are used primarily for small businesses.

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