To Close a Sole Proprietorship, the Owner Must

question 111

Multiple Choice

To close a sole proprietorship, the owner must

• A) notify the secretary of state.
• B) pay creditors.
• C) publish an out-of-business statement in the newspaper.
• D) have all licenses and permits revoked.
• E) do none of the above.

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Definitions:

Mean

The mean is the average of a set of numbers, calculated by dividing the sum of these numbers by the count of the numbers.

Observations

Data points or individual pieces of data collected through experimentation, measurement, or survey.

Expenditures

Money spent by an individual or organization for goods or services.

Mean Amount

The average value of a set of numbers, calculated by adding all the numbers together and then dividing by the count of those numbers.