In a sole proprietorship, the owner is the only person responsible for the activities of the business and, therefore, is the only one to enjoy the profits and suffer the losses.

Question

Quizplus · Accepted Answer

In a sole proprietorship, the owner has full control over the business, including responsibility for all financial aspects such as profits and losses, making them solely accountable for the business's activities.

In a Sole Proprietorship, the Owner Is the Only Person