The Sole Proprietorship Is the Same as the Individual for Liability

question 34

True/False

The sole proprietorship is the same as the individual for liability purposes.

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Definitions:

Funds

Financial resources, especially those available for a specific purpose or required to cover a specific debt or purchase.

Federal Government

The national government of a federal state, which shares sovereignty with its provinces, states, or other political subdivisions.

Appoints

The act of designating someone to a position or role, often used within legal, organizational, or governmental contexts.

Judges

Persons appointed to decide cases in a court of law, interpret laws, and administer justice.