Dana wants to setup a business quickly where she has the freedom to be her own boss and minimize the taxes that can be imposed. But, she is nervous about risking her personal wealth. Which of the following conditions will not be met in a sole proprietorship?
A) Guaranteed security of her personal wealth
B) Ease of setting up the business quickly
C) Freedom to be her own boss
D) Minimization of the taxes that can be imposed

Question

Quizplus · Accepted Answer

A sole proprietorship does not offer guaranteed security of personal wealth as the owner's personal assets are not legally separate from the business's assets. In the event of any legal or financial liability, the owner's personal assets are at risk.

Dana Wants to Setup a Business Quickly Where She Has