A Business Is Likely a Sole Proprietorship If

question 89

Multiple Choice

A business is likely a sole proprietorship if:

• A) it has two or more owners, with each owner liable for every other owner's actions.
• B) it has only one owner who has unlimited liability.
• C) it is legally treated as a person and owned by stockholders who are liable for the actions of the corporate "person."
• D) multiple owners are liable only to the extent of their own investment.

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Definitions:

Americans with Disabilities Act

A civil rights law that prohibits discrimination against individuals with disabilities in all areas of public life, including jobs, schools, transportation, and all public and private places that are open to the general public.

Components

The individual parts or elements that make up a larger system, device, or concept.

Business Organization

The structure of a company or enterprise, detailing how it is formed, managed, and its legal entity type.

Advantages and Disadvantages

A consideration of the positive and negative outcomes or effects associated with a particular choice or decision.