ADVANTAGES OF SOLE PROPRIETORSHIP PDF



Advantages Of Sole Proprietorship Pdf

What are the advantages of a sole proprietorship. An advantage of forming a sole proprietorship is that although your business income counts as your personal income, any losses your business takes may also be deductible for you. Business deductions for a sole proprietorship generally can reduce your personal taxes, as well., The sole proprietorship tax advantages are simplified reporting requirements and not having to pay separate taxes for the business. A sole proprietorship does not need to file any special tax forms with the state or federal government. Generally, the only tax form a sole proprietor will file with the IRS is a Schedule C (Profit or Loss from a Business) as part of their annual Form 1040..

The Advantages and Disadvantages of Sole Proprietorships

Learn About the Tax Benefits of a Sole Proprietorship. So in this article we will discuss Concept of Sole proprietorship its meaning , Features, merits and Demerits. Concept of Sole proprietorship. Sole proprietorship refers to a business organization in which enterprises are controlled or owned by a single person. Sole proprietorship is the oldest form of business enterprise in India. It is the, The pros and cons of corporations, LLCs, partnerships, sole proprietorships. Type of Entity Main Advantages Main Drawbacks Sole Proprietorship Simple and inexpensive to create and operate, owner reports profit or loss on his or her personal tax return Owner personally liable for ….

What are the advantages and disadvantages of a sole proprietorship, partnership, corporation, and LLC? This article explains. For partnerships, we distinguish a general partnership from a limited partnership. For corporations, we compare and contrast a C corporation from an S corporation. Table of Contents Sole ProprietorshipAdvantages of a Sole proprietorship ranges from having no employees and up to a number of employees which is easier to deal with in terms of expenses, taxes and compensation. Costs of opening a business with this structure do not require costly legal expenses as well as corporate taxes. Moreover, if the business only has few employees, health care insurance coverage is not really an obligation of the business owner. …

Advantages and Disadvantages of Sole Proprietorship are as follow: Sole trading concern can be established very quickly and easily. Anybody who In this article, you will learn 1) what is the sole proprietorship and 2) what are the advantages and disadvantages of starting a business as a sole proprietorship. THE SOLE PROPRIETORSHIP Quite easily the most common business structure and the simplest out of all the other structures, a “sole proprietorship” is a business that is owned by only one person.

If you're starting a solo business, your legal set up will likely be a sole proprietorship, too. It gives you the legal framework for a business owned and run by one person. Characteristics of a Sole Proprietorship. Individuals that run sole proprietorships can report business income and expenses on their individual tax returns. Small investors like setting up sole proprietorships too, as they are the sole receiver of all the … Test your comprehension of the related lesson on the characteristics of sole proprietorships with this quiz and worksheet combo. Some of the information that you will need to know for the quiz

An advantage of forming a sole proprietorship is that although your business income counts as your personal income, any losses your business takes may also be deductible for you. Business deductions for a sole proprietorship generally can reduce your personal taxes, as well. 05/06/2007В В· It can also be less costly to start a business as a sole proprietor, which is attractive to many new business owners who often find it difficult to attract investors. Advantages of a Sole Proprietorship . A sole proprietor has complete control and decision-making power over the business.

A sole proprietorship is a business that is directly owned by a single individual. It is not incorporated, so that the sole owner is entitled to the entire net worth of the business, and is personally liable for its debts. The individual and the business are considered to be the same entity for tax purposes. The advantages of a sole 6.4 Advantages of Sole Proprietorship The sole proprietorship form of business is the most simple and common in our country. It has the following advantages: i. Easy to Form and Wind up: A sole proprietorship form of business is very easy to form. With a very small amount of capital you can start the business. There is no need to comply with any legal formalities except for those businesses

The pros and cons of corporations, LLCs, partnerships, sole proprietorships. Type of Entity Main Advantages Main Drawbacks Sole Proprietorship Simple and inexpensive to create and operate, owner reports profit or loss on his or her personal tax return Owner personally liable for … Advantages of Sole Proprietorship: The main advantages of sole tradership are discussed as follows: 1. Ease in Formation: Sole proprietorship is the only form of organisation which is easy to form and simple to run. No legal formalities are required to be faced by such as registration, etc. He may, however, obtain licence where required under

Concept of Sole proprietorship Meaning Features or

advantages of sole proprietorship pdf

What is a Sole Proprietorship? Definition Advantages. A sole proprietorship is a simple, one-person business that does not have to register with the state, which is unlike a corporation, limited liability company, or partnership. If you are earning money on your own, you may already have your own sole proprietorship without even realizing it. Common examples of sole proprietors include freelancers, …In this video, I will show you some advantages and…disadvantages of sole proprietorships.…A sole proprietorship is ideal for a business consisting of only one person.…There's no distinction between the business and the owner.…Let's take a look at some of its key advantages.…A sole proprietorship is the simplest business structure.

advantages of sole proprietorship pdf

Sole Proprietorship Form of Business Advantages and. 6.4 Advantages of Sole Proprietorship The sole proprietorship form of business is the most simple and common in our country. It has the following advantages: i. Easy to Form and Wind up: A sole proprietorship form of business is very easy to form. With a very small amount of capital you can start the business. There is no need to comply with any legal formalities except for those businesses, Advantages of sole proprietorship in the United States. 1. Easy to organise: The great advantage of operating a new business as a sole proprietorship is an easier set up procedure unlike in other business forms such as partnership and corporations. There is no need for attorney and consultant to draft and file required documents or for the.

Learn About the Tax Benefits of a Sole Proprietorship

advantages of sole proprietorship pdf

Advantages and Disadvantages of Different Business. Advantages of sole proprietorship in the United States. 1. Easy to organise: The great advantage of operating a new business as a sole proprietorship is an easier set up procedure unlike in other business forms such as partnership and corporations. There is no need for attorney and consultant to draft and file required documents or for the https://de.wikipedia.org/wiki/Limited_Partnership Advantages of Sole Proprietorship: Everything You Need to Know. There are several advantages of a sole proprietorship. Sole proprietorships are the most common business construction and are owned by one person. 3 min read.

advantages of sole proprietorship pdf


The main disadvantages to being a sole proprietorship are: Unlimited liability: Your small business, in the form of a sole proprietorship, is personally liable for all debts and actions of the company. Unlike a corporation or an LLC, your business doesn’t exist as a separate legal entity. Therefore, all of your personal wealth and assets are DISADVANTAGES OF A SOLE PROPRIETORSHIP For each advantage in a sole proprietorship, there is a disadvantage. While the sole propri-etorship is the most popular form of business in the United States, it is also the type of busi-ness that fails most often. When you are the owner/operator, the business is dependent upon you. If you leave on

The main disadvantages to being a sole proprietorship are: Unlimited liability: Your small business, in the form of a sole proprietorship, is personally liable for all debts and actions of the company. Unlike a corporation or an LLC, your business doesn’t exist as a separate legal entity. Therefore, all of your personal wealth and assets are Advantages of sole proprietorship in the United States. 1. Easy to organise: The great advantage of operating a new business as a sole proprietorship is an easier set up procedure unlike in other business forms such as partnership and corporations. There is no need for attorney and consultant to draft and file required documents or for the

A sole proprietorship is an unincorporated business owned by one individual, making it the simplest form of business to start and operate. There are over 20 million sole proprietorships operating in the United States and Canada, making it by far the most popular form of business ownership. Please note that sole proprietorship and partnership names have no statutory name protection. If name protection is important to you, you may wish to incorporate your business or to register for a trademark at www.cipo.gc.ca. ADVANTAGES & DISADVANTAGES OF SOLE PROPRIETORSHIP Starting a sole proprietorship is the simplest way to set up a

What are the advantages and disadvantages of a sole proprietorship, partnership, corporation, and LLC? This article explains. For partnerships, we distinguish a general partnership from a limited partnership. For corporations, we compare and contrast a C corporation from an S corporation. Table of Contents Sole ProprietorshipAdvantages of a The main disadvantages to being a sole proprietorship are: Unlimited liability: Your small business, in the form of a sole proprietorship, is personally liable for all debts and actions of the company. Unlike a corporation or an LLC, your business doesn’t exist as a separate legal entity. Therefore, all of your personal wealth and assets are

What are the advantages and disadvantages of a sole proprietorship, partnership, corporation, and LLC? This article explains. For partnerships, we distinguish a general partnership from a limited partnership. For corporations, we compare and contrast a C corporation from an S corporation. Table of Contents Sole ProprietorshipAdvantages of a Sole proprietorship ranges from having no employees and up to a number of employees which is easier to deal with in terms of expenses, taxes and compensation. Costs of opening a business with this structure do not require costly legal expenses as well as corporate taxes. Moreover, if the business only has few employees, health care insurance coverage is not really an obligation of the business owner. …

Sole proprietorship ranges from having no employees and up to a number of employees which is easier to deal with in terms of expenses, taxes and compensation. Costs of opening a business with this structure do not require costly legal expenses as well as corporate taxes. Moreover, if the business only has few employees, health care insurance coverage is not really an obligation of the business owner. … Secrecy is another advantage of sole proprietorship. A sole trader is not bound to reveal or publish his accounts and supply any information regarding business to anyone. He can maintain secrecy in all matters. But in the company secrecy of business and accounts and cannot be maintained because all these affairs have to be printed so that they

A sole proprietorship is an unincorporated business owned by one individual, making it the simplest form of business to start and operate. There are over 20 million sole proprietorships operating in the United States and Canada, making it by far the most popular form of business ownership. DISADVANTAGES OF A SOLE PROPRIETORSHIP For each advantage in a sole proprietorship, there is a disadvantage. While the sole propri-etorship is the most popular form of business in the United States, it is also the type of busi-ness that fails most often. When you are the owner/operator, the business is dependent upon you. If you leave on

MGT 161 - Advantages and Disadvantages of Sole Proprietorships. STUDY. Flashcards. Learn. Write. Spell. Test. PLAY. Match . Gravity. Created by. so_sew. MGT 161 - Intro to Business Cypress College Ms. Patricia Kishel. Terms in this set (12) Advantages of Sole Proprietorships. Ease of Formation Retention of Control Pride of Ownership Retention of Profits Possible Tax Advantage. Ease of A sole proprietorship or simply a proprietorship is one of the ways to run business being the only one owner and getting all the benefits from it. An owner is also completely responsible for losses and credits the business has. There are no limits to time period an owner can run its business. He also can sell or demise his business (Sitarz, 2005).

Sole Proprietorship Meaning Advantages and Disadvantages

advantages of sole proprietorship pdf

Learn About the Tax Benefits of a Sole Proprietorship. …In this video, I will show you some advantages and…disadvantages of sole proprietorships.…A sole proprietorship is ideal for a business consisting of only one person.…There's no distinction between the business and the owner.…Let's take a look at some of its key advantages.…A sole proprietorship is the simplest business structure, In this article, you will learn 1) what is the sole proprietorship and 2) what are the advantages and disadvantages of starting a business as a sole proprietorship. THE SOLE PROPRIETORSHIP Quite easily the most common business structure and the simplest out of all the other structures, a “sole proprietorship” is a business that is owned by only one person..

Sole Proprietorship Meaning Advantages and Disadvantages

What is a Sole Proprietorship? Definition Advantages. A sole proprietorship is the simplest business structure in which one person is the owner and operator of the business. This sole proprietor is responsible for all aspects of …, 6.4 Advantages of Sole Proprietorship The sole proprietorship form of business is the most simple and common in our country. It has the following advantages: i. Easy to Form and Wind up: A sole proprietorship form of business is very easy to form. With a very small amount of capital you can start the business. There is no need to comply with any legal formalities except for those businesses.

The pros and cons of corporations, LLCs, partnerships, sole proprietorships. Type of Entity Main Advantages Main Drawbacks Sole Proprietorship Simple and inexpensive to create and operate, owner reports profit or loss on his or her personal tax return Owner personally liable for … …In this video, I will show you some advantages and…disadvantages of sole proprietorships.…A sole proprietorship is ideal for a business consisting of only one person.…There's no distinction between the business and the owner.…Let's take a look at some of its key advantages.…A sole proprietorship is the simplest business structure

A sole proprietorship is an unincorporated business owned by one individual, making it the simplest form of business to start and operate. There are over 20 million sole proprietorships operating in the United States and Canada, making it by far the most popular form of business ownership. Advantages of Sole proprietorship. 1. Sole proprietorship is easier to set up and terminate. All you need to set up a sole proprietorship is rent or buy the required equipment, put up an advert to show you are in business and get a work permit (trade license) from the local government.

Still, sole proprietorship has its own set of disadvantages. As a sole proprietor, you bear unlimited personal liability for all debts against the business. Both your business and personal assets are at risk in the event of legal trouble. Other disadvantages include possible difficulty in raising funds from outside sources. Also, operating as a An advantage of forming a sole proprietorship is that although your business income counts as your personal income, any losses your business takes may also be deductible for you. Business deductions for a sole proprietorship generally can reduce your personal taxes, as well.

If you're starting a solo business, your legal set up will likely be a sole proprietorship, too. It gives you the legal framework for a business owned and run by one person. Characteristics of a Sole Proprietorship. Individuals that run sole proprietorships can report business income and expenses on their individual tax returns. Small investors like setting up sole proprietorships too, as they are the sole receiver of all the … …In this video, I will show you some advantages and…disadvantages of sole proprietorships.…A sole proprietorship is ideal for a business consisting of only one person.…There's no distinction between the business and the owner.…Let's take a look at some of its key advantages.…A sole proprietorship is the simplest business structure

What are the advantages and disadvantages of a sole proprietorship, partnership, corporation, and LLC? This article explains. For partnerships, we distinguish a general partnership from a limited partnership. For corporations, we compare and contrast a C corporation from an S corporation. Table of Contents Sole ProprietorshipAdvantages of a …In this video, I will show you some advantages and…disadvantages of sole proprietorships.…A sole proprietorship is ideal for a business consisting of only one person.…There's no distinction between the business and the owner.…Let's take a look at some of its key advantages.…A sole proprietorship is the simplest business structure

The main disadvantages to being a sole proprietorship are: Unlimited liability: Your small business, in the form of a sole proprietorship, is personally liable for all debts and actions of the company. Unlike a corporation or an LLC, your business doesn’t exist as a separate legal entity. Therefore, all of your personal wealth and assets are Too many small business owners, the best advantage of the sole proprietorship is that as a sole proprietor, you own 100% of your business. You’re the one that runs your small business and no one else can tell you what to do or how to do it.

A sole proprietorship or simply a proprietorship is one of the ways to run business being the only one owner and getting all the benefits from it. An owner is also completely responsible for losses and credits the business has. There are no limits to time period an owner can run its business. He also can sell or demise his business (Sitarz, 2005). The sole proprietorship tax advantages are simplified reporting requirements and not having to pay separate taxes for the business. A sole proprietorship does not need to file any special tax forms with the state or federal government. Generally, the only tax form a sole proprietor will file with the IRS is a Schedule C (Profit or Loss from a Business) as part of their annual Form 1040.

Please note that sole proprietorship and partnership names have no statutory name protection. If name protection is important to you, you may wish to incorporate your business or to register for a trademark at www.cipo.gc.ca. ADVANTAGES & DISADVANTAGES OF SOLE PROPRIETORSHIP Starting a sole proprietorship is the simplest way to set up a A sole proprietorship or simply a proprietorship is one of the ways to run business being the only one owner and getting all the benefits from it. An owner is also completely responsible for losses and credits the business has. There are no limits to time period an owner can run its business. He also can sell or demise his business (Sitarz, 2005).

Advantages of Sole Proprietorship: The main advantages of sole tradership are discussed as follows: 1. Ease in Formation: Sole proprietorship is the only form of organisation which is easy to form and simple to run. No legal formalities are required to be faced by such as registration, etc. He may, however, obtain licence where required under MGT 161 - Advantages and Disadvantages of Sole Proprietorships. STUDY. Flashcards. Learn. Write. Spell. Test. PLAY. Match . Gravity. Created by. so_sew. MGT 161 - Intro to Business Cypress College Ms. Patricia Kishel. Terms in this set (12) Advantages of Sole Proprietorships. Ease of Formation Retention of Control Pride of Ownership Retention of Profits Possible Tax Advantage. Ease of

A sole proprietorship is an unincorporated business owned by one individual, making it the simplest form of business to start and operate. There are over 20 million sole proprietorships operating in the United States and Canada, making it by far the most popular form of business ownership. • What are the advantages of a sole proprietorship? • What are the disadvantages of a sole proprietorship? Chapter 8 Section Main Menu The Role of Sole Proprietorships • A business organization is an establishment formed to carry on commercial enterprise. Sole proprietorships are the most common form of business organization.

…In this video, I will show you some advantages and…disadvantages of sole proprietorships.…A sole proprietorship is ideal for a business consisting of only one person.…There's no distinction between the business and the owner.…Let's take a look at some of its key advantages.…A sole proprietorship is the simplest business structure The sole proprietorship tax advantages are simplified reporting requirements and not having to pay separate taxes for the business. A sole proprietorship does not need to file any special tax forms with the state or federal government. Generally, the only tax form a sole proprietor will file with the IRS is a Schedule C (Profit or Loss from a Business) as part of their annual Form 1040.

Advantages and Disadvantages of Sole Proprietorship are as follow: Sole trading concern can be established very quickly and easily. Anybody who What is a Sole Proprietorship: A sole proprietorship simply a business run by an individual without involving partners. In a sole proprietorship, the individual who runs the business will take care of paying the income taxes and will follow some basic government rules and regulations.

Sole Proprietorship Form of Business Advantages and

advantages of sole proprietorship pdf

Advantages and Disadvantages of Different Business. MGT 161 - Advantages and Disadvantages of Sole Proprietorships. STUDY. Flashcards. Learn. Write. Spell. Test. PLAY. Match . Gravity. Created by. so_sew. MGT 161 - Intro to Business Cypress College Ms. Patricia Kishel. Terms in this set (12) Advantages of Sole Proprietorships. Ease of Formation Retention of Control Pride of Ownership Retention of Profits Possible Tax Advantage. Ease of, Proprietorship (also called sole trade organisation) is the oldest form of business ownership in India. In a proprietorship, the enterprise is owned and controlled by one person. He is master of his show. He sows, reaps, and harvests the output of this effort. He manages the business on his own. If necessary, he may take the help of his family members, relatives and employ some employees..

The pros and cons of corporations LLCs partnerships

advantages of sole proprietorship pdf

The pros and cons of corporations LLCs partnerships. Many businesses start out as sole proprietorships. In this lesson, you'll learn what a sole proprietorship is and its advantages and disadvantages. https://de.wikipedia.org/wiki/Limited_Partnership Many businesses start out as sole proprietorships. In this lesson, you'll learn what a sole proprietorship is and its advantages and disadvantages..

advantages of sole proprietorship pdf

  • Sole Proprietorship Meaning Advantages and Disadvantages
  • What Is a Sole Proprietorship? fitsmallbusiness.com
  • What are the advantages of a sole proprietorship

  • The pros and cons of corporations, LLCs, partnerships, sole proprietorships. Type of Entity Main Advantages Main Drawbacks Sole Proprietorship Simple and inexpensive to create and operate, owner reports profit or loss on his or her personal tax return Owner personally liable for … A sole proprietorship is the simplest business structure in which one person is the owner and operator of the business. This sole proprietor is responsible for all aspects of …

    A sole proprietorship is the simplest business structure in which one person is the owner and operator of the business. This sole proprietor is responsible for all aspects of … The Cons of a Sole Proprietorship. As a sole proprietor, you are responsible for 100 percent of all business debts and obligations. This liability covers all of the proprietor’s assets, including his or her house and car. Additional insurance coverage may be needed to cover personal injury or physical loss that may hamper the continuity of

    Advantages of sole proprietorship in the United States. 1. Easy to organise: The great advantage of operating a new business as a sole proprietorship is an easier set up procedure unlike in other business forms such as partnership and corporations. There is no need for attorney and consultant to draft and file required documents or for the The pros and cons of corporations, LLCs, partnerships, sole proprietorships. Type of Entity Main Advantages Main Drawbacks Sole Proprietorship Simple and inexpensive to create and operate, owner reports profit or loss on his or her personal tax return Owner personally liable for …

    One of the first steps of starting a company is to choose a business structure, such as a sole proprietorship, partnership or corporation. This decision has a significant effect on how you conduct your business. Explore the various advantages and disadvantages of the … 05/06/2007 · It can also be less costly to start a business as a sole proprietor, which is attractive to many new business owners who often find it difficult to attract investors. Advantages of a Sole Proprietorship . A sole proprietor has complete control and decision-making power over the business.

    One of the first steps of starting a company is to choose a business structure, such as a sole proprietorship, partnership or corporation. This decision has a significant effect on how you conduct your business. Explore the various advantages and disadvantages of the … The pros and cons of corporations, LLCs, partnerships, sole proprietorships. Type of Entity Main Advantages Main Drawbacks Sole Proprietorship Simple and inexpensive to create and operate, owner reports profit or loss on his or her personal tax return Owner personally liable for …

    If you're starting a solo business, your legal set up will likely be a sole proprietorship, too. It gives you the legal framework for a business owned and run by one person. Characteristics of a Sole Proprietorship. Individuals that run sole proprietorships can report business income and expenses on their individual tax returns. Small investors like setting up sole proprietorships too, as they are the sole receiver of all the … What is a Sole Proprietorship: A sole proprietorship simply a business run by an individual without involving partners. In a sole proprietorship, the individual who runs the business will take care of paying the income taxes and will follow some basic government rules and regulations.

    Too many small business owners, the best advantage of the sole proprietorship is that as a sole proprietor, you own 100% of your business. You’re the one that runs your small business and no one else can tell you what to do or how to do it. What is a Sole Proprietorship: A sole proprietorship simply a business run by an individual without involving partners. In a sole proprietorship, the individual who runs the business will take care of paying the income taxes and will follow some basic government rules and regulations.

    Advantages of Sole proprietorship. 1. Sole proprietorship is easier to set up and terminate. All you need to set up a sole proprietorship is rent or buy the required equipment, put up an advert to show you are in business and get a work permit (trade license) from the local government. A sole proprietorship is the simplest business structure in which one person is the owner and operator of the business. This sole proprietor is responsible for all aspects of …

    The pros and cons of corporations, LLCs, partnerships, sole proprietorships. Type of Entity Main Advantages Main Drawbacks Sole Proprietorship Simple and inexpensive to create and operate, owner reports profit or loss on his or her personal tax return Owner personally liable for … Still, sole proprietorship has its own set of disadvantages. As a sole proprietor, you bear unlimited personal liability for all debts against the business. Both your business and personal assets are at risk in the event of legal trouble. Other disadvantages include possible difficulty in raising funds from outside sources. Also, operating as a

    What is a Sole Proprietorship: A sole proprietorship simply a business run by an individual without involving partners. In a sole proprietorship, the individual who runs the business will take care of paying the income taxes and will follow some basic government rules and regulations. The sole proprietorship tax advantages are simplified reporting requirements and not having to pay separate taxes for the business. A sole proprietorship does not need to file any special tax forms with the state or federal government. Generally, the only tax form a sole proprietor will file with the IRS is a Schedule C (Profit or Loss from a Business) as part of their annual Form 1040.

    A sole proprietorship is the simplest business structure in which one person is the owner and operator of the business. This sole proprietor is responsible for all aspects of … The sole proprietorship tax advantages are simplified reporting requirements and not having to pay separate taxes for the business. A sole proprietorship does not need to file any special tax forms with the state or federal government. Generally, the only tax form a sole proprietor will file with the IRS is a Schedule C (Profit or Loss from a Business) as part of their annual Form 1040.

    A sole proprietorship or simply a proprietorship is one of the ways to run business being the only one owner and getting all the benefits from it. An owner is also completely responsible for losses and credits the business has. There are no limits to time period an owner can run its business. He also can sell or demise his business (Sitarz, 2005). Advantages and Disadvantages of Sole Proprietorship are as follow: Sole trading concern can be established very quickly and easily. Anybody who

    A sole proprietorship is a business that is directly owned by a single individual. It is not incorporated, so that the sole owner is entitled to the entire net worth of the business, and is personally liable for its debts. The individual and the business are considered to be the same entity for tax purposes. The advantages of a sole DISADVANTAGES OF A SOLE PROPRIETORSHIP For each advantage in a sole proprietorship, there is a disadvantage. While the sole propri-etorship is the most popular form of business in the United States, it is also the type of busi-ness that fails most often. When you are the owner/operator, the business is dependent upon you. If you leave on

    advantages of sole proprietorship pdf

    6.4 Advantages of Sole Proprietorship The sole proprietorship form of business is the most simple and common in our country. It has the following advantages: i. Easy to Form and Wind up: A sole proprietorship form of business is very easy to form. With a very small amount of capital you can start the business. There is no need to comply with any legal formalities except for those businesses Test your comprehension of the related lesson on the characteristics of sole proprietorships with this quiz and worksheet combo. Some of the information that you will need to know for the quiz