3 Questions
What type of business is a sole proprietorship?
Owned and operated by one person
In a sole proprietorship, who is responsible for all the business's debts and obligations?
The owner
What is a key characteristic of a sole proprietorship?
Unlimited liability for the owner
Study Notes
What type of business is a sole proprietorship? In a sole proprietorship, who is responsible for all the business's debts and obligations? What is a key characteristic of a sole proprietorship?
Test your knowledge on sole proprietorship with this quiz. Explore the type of business, responsibility for debts and obligations, and key characteristics of a sole proprietorship.
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