Darrell is sure he would like to be a sole proprietor of his business, but he knows he should weigh the pros and cons of that decision. What would be a disadvantage of sole proprietorship for Darrell? (1 point) Responses He would be the only owner and make all the decisions. He would be the only owner and make all the decisions. He would be liable or legally responsible for all debts. He would be liable or legally responsible for all debts. He would be subject to very few government regulations. He would be subject to very few government regulations. He would be eligible to receive all after-tax income earned in the business.
He would be liable or legally responsible for all debts.
The disadvantage of sole proprietorship for Darrell would be that he would be liable or legally responsible for all debts.
The disadvantage of sole proprietorship for Darrell would be that he would be liable or legally responsible for all debts. As the sole owner of the business, Darrell would have unlimited personal liability for any debts or obligations of the business. This means that if the business fails or incurs debts, Darrell's personal assets could be at risk to satisfy those obligations. To determine this answer, you can identify the different options and consider the consequences of each one. In this case, the option "He would be liable or legally responsible for all debts" stands out as a potential disadvantage of sole proprietorship.
