Assume That You Set Up a Sole Proprietorship and Your

question 176

Multiple Choice

Assume that you set up a sole proprietorship and your lawyer tells you that as the owner, you could stand to lose your personal wealth if the business goes bankrupt.This means that a sole proprietorship

• A)faces limited liability.
• B)faces unlimited liability.
• C)has little chance of succeeding.
• D)is not a good type of business to set up.

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Definitions:

Symbolic Interactionism

A sociological perspective focusing on the importance of symbols and meaning in human interaction, emphasizing how personal identity is shaped through social interactions.

Structural Functionalism

An approach in sociology and anthropology which interprets society as a structure with interconnected parts designed to maintain its stability and functionality.

Conflict Perspective

A theory in sociology that views social life as a competition and conflict between groups for resources and power.

Biological Body

The physical and biological aspects of an organism, encompassing its physical structures and physiological systems.