A Sole Proprietorship Automatically Is Dissolved When the Owner Dies

question 4

True/False

A sole proprietorship automatically is dissolved when the owner dies.

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Definitions:

Liquid Assets

Assets that can be quickly and easily converted into cash without significant loss in value.

Liabilities

Financial obligations or debts that an individual or organization owes to others.

Debt Ratio

A financial metric that measures the proportion of a company's total debt to its total assets, indicating the degree of leverage and financial risk.

Total Debts

The cumulative amount of all debts and liabilities a company or individual owes.