In a ______________,one person owns all of the assets of the business and is liable for all of its debts.

Question

Quizplus · Accepted Answer

A sole proprietorship is a business owned and operated by one person. The owner has complete control over the business and is personally liable for its debts. This is the simplest and most common form of business ownership, often used for small businesses or startups. Options B, C, and D involve multiple owners and different types of liability protection, and may not be the best choice depending on the specific circumstances of the business.

In a ______________,One Person Owns All of the Assets of the Business