In a Sole Proprietor Ownership,if Business Assets Are Not Enough

question 54

Multiple Choice

In a sole proprietor ownership,if business assets are not enough to pay business debts,then personal assets,such as the sole proprietor's house,personal investments,and retirement plans can be used to pay the debt.This is called ________.

• A) unlimited liability
• B) limited liability
• C) non-liability
• D) double taxation
• E) sole liability

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Definitions:

Hypoglossal Nerve

The twelfth cranial nerve, responsible for motor control of the tongue.

Oculomotor Nerve

The oculomotor nerve, which is the third cranial nerve, is tasked with overseeing the majority of movements in the eye, such as pupil constriction and keeping the eyelid raised.

Optic Nerve

The nerve tasked with conveying visual data from the retina towards the brain.

Vagus Nerve

The tenth cranial nerve, extending from the brainstem to the abdomen, which influences various functions including heart rate, gastrointestinal peristalsis, and sweating.