Which of the following statements is not true about sole proprietors
A) They are willing to risk their own resources to start a business
B) They need a lot of money from others to start their business
C) They want to minimize the costs of getting started
D) They risk their personal assets for the business

Question

Quizplus · Accepted Answer

Sole proprietors typically use their own resources to start a business and do not necessarily need a lot of money from others. In fact, one of the benefits of being a sole proprietor is that they have complete control over the finances and can minimize costs by keeping the business small and simple. However, they do risk their personal assets for the business and are willing to take that risk in order to run their own business.

Which of the Following Statements Is Not True About Sole