In a sole proprietorship,the owner ________.
A) obtains limited liability protection on the business's actions
B) is taxed more than once for the income generated
C) and the business are legally inseparable
D) has lesser responsibility compared to other forms
E) does not have personal liability for the transactions of the business

Question

Quizplus · Accepted Answer

A)In a sole proprietorship, the owner and the business are legally inseparable, which gives the proprietor unlimited liability. Any legal damages or debts incurred by the business are the owner's personal responsibility.
B)In a sole proprietorship, the owner and the business are legally inseparable, which gives the proprietor unlimited liability. Any legal damages or debts incurred by the business are the owner's personal responsibility.
C)In a sole proprietorship, the owner and the business are legally inseparable, which gives the proprietor unlimited liability. Any legal damages or debts incurred by the business are the owner's personal responsibility.
D)In a sole proprietorship, the owner and the business are legally inseparable, which gives the proprietor unlimited liability. Any legal damages or debts incurred by the business are the owner's personal responsibility.
E)In a sole proprietorship, the owner and the business are legally inseparable, which gives the proprietor unlimited liability. Any legal damages or debts incurred by the business are the owner's personal responsibility.

In a Sole Proprietorship,the Owner ________