Ramses owns a roofing business. He enjoys being his own boss, but it comes at a price. Often, his days are filled with organizing the activities of the employees and seeking out new customers. He often misses events with friends and family because of the obligations of running his own business. He also knows that he has unlimited personal liability for any of his firm's debts. Ramses's business is organized as a(n)
A) joint venture.
B) C corporation.
C) S corporation.
D) sole proprietorship.

Question

Quizplus · Accepted Answer

A key advantage of sole proprietors is that the owner is his or her own boss, and can run the business the way he or she likes. However, this freedom comes with a great deal of responsibility. Sole proprietors have no one else to share the burdens of ownership and often must work very long hours to keep the company on course. Another disadvantage of a sole proprietorship is that the owner has unlimited liability.

Ramses Owns a Roofing Business