A single proprietorship is a form of business organization which
A)has one owner-manager who is personally responsible for the firm's actions and debts.
B)has a single owner but has directors who are responsible for the firm's debts.
C)has limited liability.
D)has unlimited access to money capital.
E)allows easy transferability of ownership by the trading of shares.

Question

Quizplus · Accepted Answer

A single proprietorship has only one owner-manager who is personally responsible for the firm's actions and debts. This means that the owner's personal assets may be used to pay off the debts of the business if necessary.

A Single Proprietorship Is a Form of Business Organization Which