Millie Has a Sole Proprietorship Which Is Her Only Source

question 72

Multiple Choice

Millie has a sole proprietorship which is her only source of income What legal action should she take to prevent the business from being ruined if she became incapacitated?

• A) Give someone who is competent power of attorney to continue the business.
• B) State in her will what she would like done with the company.
• C) Find a partner and change the legal organization of the company
• D) Tell her heirs to sell as she can't prevent ruin with a sole proprietorship

---

Definitions:

Resource Allocator

A role or system responsible for distributing resources and assets efficiently across different parts of an organization or project.

Entrepreneur

An individual who organizes and operates a business or businesses, taking on financial risks in the pursuit of profit.

Monitor

To regularly observe and check the progress or quality of something over a period of time; can refer to both human activities and technological methods.

Leader

An individual or entity that guides or directs others towards achieving a common goal or objective, often demonstrating qualities such as vision, courage, and integrity.