Question

1. what is one advantage corporations have over sole proprietorships?

unlimited personal liability
simple tax reporting
owned by one person only
perpetual existence and easier capital raising

Explanation:

• Unlimited personal liability is a disadvantage of sole proprietorships, not an advantage of corporations.
• Simple tax reporting is more associated with sole proprietorships (e.g., reported on personal tax returns) rather than corporations (which have more complex tax structures).
• "Owned by one person only" describes a sole proprietorship, not a corporation.
• Corporations have perpetual existence (not dependent on the life of an individual owner) and can raise capital more easily (e.g., by issuing stocks).

Answer:

Perpetual existence and easier capital raising