A sole proprietorship combines the benefits of both a partnership and a professional corporation.

Name: A sole proprietorship combines the benefits of both a partnership and a professional corporation.
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Question

A sole proprietorship combines the benefits of both a partnership and a professional corporation. ​

Quizplus · Accepted Answer

A sole proprietorship is not a combination of a partnership and a professional corporation. It is a type of business where the owner and the business are considered the same entity, and the owner has unlimited liability for the business's debts and obligations.

A Sole Proprietorship Combines the Benefits of Both a Partnership