Which of the following is an advantage of owning your own business?

• A. Guaranteed steady income
• B. Having control over business decisions
• C. No financial risk involved
• D. Limited responsibility for business operations

Answer: (B)

Verified step by step guidance

1. Understand the context of the question: It is asking about the advantages of owning your own business, which involves evaluating the benefits and challenges of entrepreneurship.
2. Analyze each option provided: Consider whether each statement aligns with the typical characteristics of owning a business. For example, 'Guaranteed steady income' is not typically an advantage of owning a business, as income can fluctuate.
3. Evaluate the concept of 'Having control over business decisions': This is a key advantage of entrepreneurship, as business owners have the autonomy to make decisions about operations, strategy, and growth.
4. Consider the statement 'No financial risk involved': Owning a business inherently involves financial risk, as entrepreneurs invest capital and face market uncertainties.
5. Assess the statement 'Limited responsibility for business operations': Business owners generally have significant responsibility for operations, making this statement inaccurate as an advantage.