A Major Advantage of Sole Proprietorships Is That an Owner

question 94

True/False

A major advantage of sole proprietorships is that an owner has limited liability for the debts of his or her business.

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Definitions:

Natural Resources

Assets provided by nature without human intervention, such as minerals, forests, water, and land, that can be used for economic gain.

Natural Resources

Refers to commodities or raw materials that originate from the Earth and can be used for economic gain, such as minerals, forests, water, and land.

Act of Nature

Events caused by natural forces without human intervention, often resulting in damage or disruption, such as hurricanes, earthquakes, or floods.

Indefinite Life

Refers to intangible assets that are not expected to have a predictably limited lifespan and therefore are not amortized.