The sole proprietorship is for all practical purposes the absence of any formal legal business structure.

Name: The sole proprietorship is for all practical purposes the absence of any formal legal business structure.
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Quizplus · Accepted Answer

A sole proprietorship is not a formal legal business structure like a corporation or LLC. It is simply a business owned and operated by one person, with no distinction between the individual and the business itself.

The Sole Proprietorship Is for All Practical Purposes the Absence