Unincorporated entities with only one individual (person) owner are taxed as sole proprietorships. True False Question 17 (1 point)
Added by Asunci-N V.
Close
Step 1
A sole proprietorship is a business owned and run by one person. The owner is personally liable for all debts and obligations of the business. Show more…
Show all steps
Your feedback will help us improve your experience
Joshua Hale and 55 other Principles of Accounting educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Recommended Videos
'The sole proprietorship is the form of ownership with the least ability to accumulate capital: False True'
Joshua H.
True or False Sole proprietorships are the most common form of business organization in the United States.
Animesh R.
Recommended Textbooks
Horngren’s Cost Accounting
Cost Accounting A Managerial Emphasis
Principles of Accounting Volume 1: Financial Accounting
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD