The freedom from the restrictions of personal legal responsibility for the obligations of the business is a tremendous advantage to the sole proprietor.

Name: The freedom from the restrictions of personal legal responsibility for the obligations of the business is a tremendous advantage to the sole proprietor.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A sole proprietor is personally liable for all the debts and obligations of the business, meaning there is no legal separation between personal and business liabilities.

The Freedom from the Restrictions of Personal Legal Responsibility for the Obligations