Limited Liability Is an Advantage of the Sole Proprietorship

question 115

True/False

Limited liability is an advantage of the sole proprietorship.

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Definitions:

Sole Proprietorship

A business structure where a single individual owns, operates, and is responsible for all aspects of the business.

Pre-Owned Auto

A previously owned vehicle that is sold in the automotive market, typically having one or more prior owners before the current transaction.

Good Faith

Good faith denotes honesty or sincerity of intention in fulfilling one's obligations or transacting business.

Franchisor

An individual or company that grants the license to third parties to conduct business under its trademark, business model, and brand.