OAugust 15 O December 15 Mark for follow up Question 2 of 75. Which of the following is a disadvantage of operating as a sole proprietorship? Sole proprietorships have complex legal and accounting requirements. The owner of a sole proprietorship generally carries unlimited liability for the debts and liabilities of the business.v A sole proprietorship has only limited flexibility in choosing a tax year. A sole proprietorship may consist of one or many individuals. Mark for follow up stion 3 of 75 Fthan received a check from a client should he re