Under the ____ form of ownership, the business dissolves upon the owner's death.
A)partnership
B)corporation
C)sole proprietor
D)limited liability

Question

Quizplus · Accepted Answer

In a sole proprietorship, there is only one owner who is responsible for all aspects of the business. The business is tied to the owner, and when they pass away, the business dissolves. Partnerships and corporations are not affected by the death of an owner in the same way, as there are multiple individuals involved in the ownership of the business. Limited liability is a legal protection that limits the financial liability of the owners in case of legal issues, and does not pertain to the dissolution of the business upon the death of an owner.

Under the ____ Form of Ownership, the Business Dissolves Upon