Which of the following is true of creating a sole proprietorship?

Name: Which of the following is true of creating a sole proprietorship?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Creating a sole proprietorship does not require any government approval. However, the owner will be responsible for paying personal income taxes on the profits earned by the business. While licenses may not be required to do business within a city or state, certain professions may require professional licenses or certifications.

Which of the Following Is True of Creating a Sole