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Hand Craft & wood work
on Nov 09, 2024
Verified
A sole proprietorship is owned by two or more persons.
Sole Proprietorship
A business structure where a single individual owns, manages, and is personally responsible for all aspects of the business, including debts.
Persons
Human beings regarded as individuals or entities capable of owning property, having rights and responsibilities, and engaging in legal contracts and activities.
- Understand the different types of business ownership forms and their characteristics.
- Recognize the legal and liability differences between sole proprietorships, partnerships, and corporations.
Verified Answer
SF
Learning Objectives
- Understand the different types of business ownership forms and their characteristics.
- Recognize the legal and liability differences between sole proprietorships, partnerships, and corporations.
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