The locals residing near a small chemical factory file a complaint against it for polluting the environment. The owner of the factory learns that if he loses the case, his personal possessions might also be confiscated.Which of the following types of ownership is the factory functioning under?
A)Limited liability company
B)Corporation
C)Partnership
D)Sole proprietorship

Question

Quizplus · Accepted Answer

In a sole proprietorship, the owner has unlimited liability, meaning personal assets can be used to cover business debts or legal judgments.

The Locals Residing near a Small Chemical Factory File a Complaint