Question: Please answer the following questions Test: Chapter 1 Test Submit Test This Question: 1 pt 2 of 5 (0 complete) This Test: 5 pts possible

Please answer the following questions

Test: Chapter 1 Test Submit Test This Question: 1 pt 2 of 5 (0 complete) This Test: 5 pts possible You would like to start a cellular telephone equipment service business. You are considering organizing the business as a sole proprietorship. Identify the advantages and disadvantages of owning a sole proprietorship. Three advantages of owning a sole proprietorship 2. 3. Three disadvantages of owning a sole proprietorship 2. 3

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2. Find out if there are other reference points that can be used as reasonable alternatives.

1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.