A business formed by a single individual who is responsible for all debts and claims against the business is called a

Name: A business formed by a single individual who is responsible for all debts and claims against the business is called a
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Question

Quizplus · Accepted Answer

A sole proprietorship is a business owned and operated by a single individual who is fully responsible for all debts and claims against the business. This means that the owner's personal assets are also at risk if the business is sued or goes bankrupt.

A Business Formed by a Single Individual Who Is Responsible