Sole Proprietorships Are Predominantly Started Because

question 34

Multiple Choice

Sole proprietorships are predominantly started because:

• A)they are easily and cheaply setup.
• B)the proprietorship life is limited to the business owner's life.
• C)all business taxes are paid as individual tax.
• D)All of the above.
• E)None of the above.

---

Definitions:

Guarantor

A person or entity that agrees to be responsible for another's debt or obligations if the original party fails to meet their commitments.

Surety

A person or entity that takes responsibility for another's performance of an obligation, such as repaying a loan, or for the accuracy of a statement.

Interest

The charge for borrowing money, typically a percentage of the amount lent.

Guarantor

A party that agrees to be responsible for the debt or obligation of another if the original obligor fails to meet their obligations.