When a Business Is Set Up as a Sole Proprietorship

question 250

True/False

When a business is set up as a sole proprietorship, the owner of the business faces limited liability.

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Definitions:

Self-Esteem

Someone's internal judgment of their value, involving both their self-concept and feelings.

Exchange Relationships

Social relationships where the mutual exchange of goods, services, favors, or other benefits is the foundation and expectation of the interaction.

Communal Relationships

Social connections in which individuals emphasize mutual care and concern for each other's welfare.

Reciprocity

A mutual exchange of privileges or actions, where the behavior of one party leads to a response from another in a similar manner.