Under the ____ form of ownership, any money borrowed by the business is loaned to the owner personally.
A)partnership
B)corporation
C)sole proprietor
D)stewardship

Question

Quizplus · Accepted Answer

In a sole proprietorship, the owner and the business are treated as the same legal entity. This means that any money borrowed by the business is actually borrowed by the owner personally, as the owner is solely responsible for the debts and obligations of the business. This is different from a corporation, where the business is a separate legal entity and any money borrowed by the business is not borrowed by the owners personally.

Under the ____ Form of Ownership, Any Money Borrowed by the Business