The Most Significant Limitation on Use of a Sole Proprietorship

question 16

Multiple Choice

The most significant limitation on use of a sole proprietorship is that

• A)the sole proprietor alone must do all the work in the sole proprietorship business.
• B)it is simple to terminate.
• C)the sole proprietor must obtain a business licence.
• D)the sole proprietor must register a business name.
• E)the sole proprietor has unlimited personal liability for all obligations of the sole proprietorship business.

---

Definitions:

Aspirational

Refers to brands, products, or lifestyles that a consumer desires to have in the future, driven by the perception of a better social status or quality of life.

Negative

Generally refers to a detrimental condition or quality, but in marketing, it can relate to negative feedback or perceptions that impact brand reputation.

Distinctive Characteristics

Unique features or qualities of a product, service, or entity that set it apart from its competitors.

Societal Rules

The norms and laws governing behavior within a society, which can influence individual and group actions and decisions.