Asked by
kennedy Craig
on Nov 01, 2024
Verified
One of the main disadvantages of the sole proprietorship is that the owner has unlimited liability.
Unlimited Liability
The legal obligation of business owners to pay all of their business debts personally, without limit, which exposes personal assets to risk.
Sole Proprietorship
A business formed by the sole proprietor. It is the easiest business organization to form.
- Acquire knowledge on the concept of limited liability and evaluate different models of business entities.
Verified Answer
DT
Learning Objectives
- Acquire knowledge on the concept of limited liability and evaluate different models of business entities.