If a Sole Proprietorship Incurs a Debt or Suffers a Catastrophe

question 52

True/False

If a sole proprietorship incurs a debt or suffers a catastrophe, the owner is
personally liable for it.

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Definitions:

Dimensional

Relating to or involving dimensions, often in reference to measurements or the aspect of size, length, width, and depth.

Categorical

Related to or involving categories or classifications, often used in describing data that can be divided into specific groups.

Concussions

Brain injuries characterized by temporary loss of brain function, often caused by a blow to the head.

Depression

A mental health affliction characterized by a ceaseless somber mood or disconnection from activities, critically affecting everyday functionality.