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Which sentences describe characteristics of a sole proprietorship?

Annie Barnes

in Business

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Dana Keller on April 18, 2018

Sole proprietorship - A type of business organization that has an owner. The owner is personally liable to pay the business debts. CharacteristicsOwnership: Owned by 1 person.Training: No formal filing or agreement necessary to form.Responsibility: the Owner could lose personal assets to meet the obligations of the companies.Closure: End with the death of its owner or of business closure.


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