A Sole Proprietorship Is a Separate Entity for Legal Purposes

question 173

True/False

A sole proprietorship is a separate entity for legal purposes.

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Definitions:

Adolescence

The transitional period between childhood and adulthood, characterized by significant physical, psychological, and social changes.

Erikson

A developmental psychologist famous for his theory on the psychosocial development of humans, consisting of eight stages from infancy to adulthood.

Identity Moratorium

A phase in identity development where individuals are actively exploring options but have not yet made commitments.

Identity Achiever

A term from James Marcia's theory, referring to an individual who has gone through an identity crisis and has made a commitment to a sense of identity (i.e., a set of values, ideals, and goals).