Question on: JAMB Economics - 1994
A major shortcoming of the sole proprietorship form of business is lack of?
A
working capital
B
patronage
C
continuity
D
market
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Correct Option: C
The major shortcoming of a sole proprietorship is the lack of continuity. Because the business is tied to the owner, it can dissolve if the owner dies, becomes incapacitated, or chooses to retire. The business doesn't automatically continue as a separate entity.
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