Questions and Answers
What type of enterprise is a sole proprietorship?
Owned and run by one person with no legal distinction between the owner and the business entity
What is the responsibility of a sole trader for the losses and debts of the business?
Unlimited responsibility
What is the legal status of the business in a sole proprietorship?
Not a separate legal entity from the proprietor
What may a sole proprietor use as a business name?
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How does a sole trader receive profits from the business?
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