Which of the following statements best describes a proprietorship?
A)can be single or multiple owners
B)taxed separately
C)most expensive to establish
D)owner is responsible for debt of the company

Question

Quizplus · Accepted Answer

Proprietorships are characterized by having a single owner who is personally responsible for the debts and obligations of the business. This means that if the business incurs debt or is sued, the owner's personal assets are at risk.

Which of the Following Statements Best Describes a Proprietorship