In what manner are a sole proprietorship and a partnership similar?
A) There is no legislated regulation affecting either.
B) Both require special steps to create.
C) Neither is a legal entity with capacity to contract.
D) Both require regulation of their profit motives.

Question

Quizplus · Accepted Answer

Sole proprietorships and partnerships are similar in that neither is considered a separate legal entity from their owners. This means they cannot enter into contracts or own property in the name of the business itself; instead, these actions are done in the names of the individual owners or partners.

In What Manner Are a Sole Proprietorship and a Partnership