A proprietorship is:
A) A business formed by two or more individuals.
B) A separate legal body formed by an individual who has limited personal liability.
C) A business owned by an individual who has unlimited personal liability.
D) A business managed by a single general partner.
E) A limited liability form of business ownership.

Question

Quizplus · Accepted Answer

A proprietorship, also known as a sole proprietorship, is a business owned and operated by a single individual who has unlimited personal liability for the debts and obligations of the business.

A Proprietorship Is