One of the advantages of a proprietorship is that the business assets are legally separate from the owner's assets for all purposes.

Question

Quizplus · Accepted Answer

The statement is false. In a proprietorship, the business assets and owner's assets are not legally separate entities. This means that the owner is personally responsible for any liabilities of the business, and their personal assets may be used to satisfy any debts or legal claims against the business.

One of the Advantages of a Proprietorship Is That the Business