ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which answer choice is not a characteristic of Sole proprietor?
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Most popular business
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Company is liable
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Owner is liable
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Only one owner
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Explanation:
Detailed explanation-1: -Sole proprietors have complete control over their business. They have no partners (unless the owners are a married couple) and do not operate as a corporation. A sole proprietorship provides no separation between the business and owner. The owner assumes all tax obligations and legal liabilities.
Detailed explanation-2: -Expert-Verified Answer. d) non-flexibility.
Detailed explanation-3: -The business owner has unlimited liability (i.e. the business owner is personally liable for all the debts and losses of the sole proprietorship) It can sue or be sued in the owner’s name.
There is 1 question to complete.