Which of these is true about sole proprietorship?
A. You don't have to register a sole proprietorship.
B. The owner cannot be held personally liable for business debts.
C. An individual starts the business and is the only responsible party.
D. Sole proprietorships can only make a certain amount of money.

Question

16-05-2024
Social Studies

Answered

Which of these is true about sole proprietorship?
A. You don't have to register a sole proprietorship.
B. The owner cannot be held personally liable for business debts.
C. An individual starts the business and is the only responsible party.
D. Sole proprietorships can only make a certain amount of money.

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-05-16T00:06:43-04:00

Final answer:

Sole proprietorship involves an individual owning and operating a business, assuming personal liability for debts. It is not required to register a sole proprietorship, making it a straightforward and cost-effective business structure.

Explanation:

Soe proprietorship is a type of business organization where one individual owns and operates the business. The owner is personally liable for all business debts and obligations, meaning their personal assets can be at risk. Registering a sole proprietorship is not mandatory, making it an easy and affordable way to start a business.

Learn more about Sole proprietorship here:

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