A firm with a single owner who has unlimited liability is
A)a corporation.
B)a sole proprietorship.
C)a limited partnership.
D)an unlimited partnership.
E)a cooperative.

Question

Quizplus · Accepted Answer

A sole proprietorship is a type of business owned and operated by one person, who has unlimited liability for the debts and obligations of the business. This means that the owner's personal assets can be used to satisfy any debts or legal claims against the business. A corporation, limited partnership, unlimited partnership, and cooperative all involve multiple owners or members, and have limited liability protection for their owners.

A Firm with a Single Owner Who Has Unlimited Liability