m9ayannathley
m9ayannathley m9ayannathley
  • 01-07-2016
  • Business
contestada

which sentences describe characteristics of a sole proprietorship?

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atechnicalfail atechnicalfail
  • 01-07-2016
Sole Proprietorship- A type of business organization that has one owner. The owner is personally liable for paying the business's debts.
          Characteristics
Ownership: Owned by 1 person.
Formation: No formal filing or agreement necessary to form.
Liability: Owner could lose personal assets to meet obligations of business.
Closing: Ends with death of owner or closing of business.
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